eBook Print Item GENERAL JOURNAL POST. REF CCOUNT TITLE Adjusting Entries 100.00 Dec. 31 Interest Expense 100.00 Interest Payable 42.00 31 Interest Recelvable 42.00 Interest Income Required 1. Assuming that Thomas uses reversing entries, prepare journal entries to recod a the January 1, 2017, reversing entries b the March 1, 2017, $4,326 collection of the note recervable c the May 1, 2017, $6,300 payment of ine note payabie 2. Assuming instead nat Thomas does not use reversing entries, prepare journal entnies to recora tne coilection of he note recervable and the payment of the note payable