Current Attempt in Progress Sheridan 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 $26,200. Notes Receivable include the following. Interest Rate 7% Date April 21 May 25 June 30 Maker Coote Inc. Brady Co. BMG Corp. Face Value $4,000 7,800 14,400 Term 90 days 60 days 6 months Maturity Date July 20 July 24 December 31 10% 7% During July, the following transactions were completed. July 5 14 20 24 Made sales of $4,200 on Sheridan credit cards. Made sales of $900 on Visa credit cards. The credit card service charge is 3%. Received payment in full from Coote Inc, on the amount due. Received payment in full from Brady Co. on the amount due. Journalize the July transactions and the July 31 adjusting entry for accrued interest receivable (Interestis computed using 360 days; omit cost of goods sold entries.) (Credit account titles are automatically Indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit July 5 Accounts Receivable 4200 Journalize the July transactions and the July 31 adjusting entry for accrued interest receivable. (Interest is computed using 360 days; omit cost of goods sold entries.) (Credit account titles are automatically Indented when amount is entered. Do not indent manually. Record joumal entries in the order presented in the problem.) Debit Credit Date July Account Titles and Explanation Accounts Receivable Sales Revenue 4200 4200 July 14 Cash 873 Service Charge Expense 27 Sales Revenue July 20 Cash Interest Revenue Notes Receivable July 24 Cash Interest Revenue Notes Receivable July 31 Interest Receivable Interest Revenue Enter the balances at July 1 in the receivable accounts and post the entries to all of the receivable ac order of Journal entries posted in the previous part.) Notes Receivable Accounts Receivable Interest Receivable Show the balance sheet presentation of the receivable accounts at July 31. Sheridan Company Balance Sheet (Partial) $