Cullumber Company closes its books on its July 31 year-end. The company does not make entries to accrue for interest except at its year-end. On June 30, the Notes Receivable account balance is $26,400. Notes Receivable include the following. Date Maker Face Value Term Maturity Date Interest Rate April 21 Coote Inc. $4,800 90 days July 20 8% May 25 Brady Co. 8.400 60 days July 24 10% June 30 BMG Corp 13,200 6 months December 31 7% During July, the following transactions were completed. July 5 Made sales of $4.720 on Cullumber credit cards. 14 Made sales of $600 on Visa credit cards. The credit card service charge is 2%. 20 Received payment in full from Coote Inc. on the amount due. 24 Received payment in full from Brady Co. on the amount due. Enter the balances at July 1 in the receivable accounts and post the entries to all of the receivable accounts. (Post entries in the order of journal entries posted in the previous part.) Notes Receivable 7/20 4800 7/24 8400 7/31 Bal. Accounts Receivable 7/5 4720 7/31 Bal 4720 Interest Receivable 7/31 77