December 31

Accrue the interest on the three short-term notes receivable. Calculate the interest on each note to the nearest cent. Use the 360-day banker's year for all interest computations. Interest receivable has not been accrued on any of the notes. Make a single journal entry for the total accrued interest receivable on the three notes.

Note One: $4,600.00, 8%, 90-day note, dated November 16.

Note Two: $10,000.00, 14%, 90-day note, dated December 23

Note Three: $25,000.00, 12%, 60-day note, dated December 28