Eastern Supply sells a variety of merchandise to retail stores on account, but it insists that any customer who fails to pay an invoice when due must replace their account receivable with an interest-bearing note. The company adjusts and closes its accounts at December 31. Among the transactions relating to notes receivable were the following. Sept. 1 Received from a customer (Party Plus) a 9-month, 10 percent note for $75,000 in settlement of an account receivable due today. June. 1 Collected in full the 9-month, 10 percent note receivable from Party Plus, including interest.