counting period? P9.6ndoes not make entries to accrue for interest except at its year-end. On June 30 Receivable account 3,4) Financial Statement Milton Company closes its books on its July 31 year-end. nt balance is $23,800. Notes Receivable includes the following. terest except at its year-end. On June 30, the Notes Maker Face Value $ 6,000 7,800 10,000 Date Term Maturity Date April 21 May 25 30 Coote Inc. Brady Co. BMG Corp. 90 days 60 days 6 months July 20 July 24 December 31 Interest Rate 8% 10% 6% During July, the following transactions were completed. July 5 Made sales of $4,500 on Milton credit cards. 14 Made sales of $600 on Visa credit cards. The credit card service charge is 3%. 20 Received payment in full from Coote Inc. on the amount due. 24 Received payment in full from Brady Co. on the amount due. Instructions a. Journalize the July transactions and the July 31 adjusting entry for accrued interest receivabl (Interest is computed using 360 days; omit cost of goods sold entries.)