Elburn Supply Co. has the following transactions related to notes receivable during the last 2 months of 2017. The company does not make entries to accrue interest except at December 31.

Nov. 1 Loaned $14,400 cash to Manny Lopez on a 12-month, 10% note.

Dec. 11 Sold goods to Ralph Kremer, Inc., receiving a $31,500, 90-day, 8% note.

16 Received a $30,720, 180 day, 10% note in exchange for Joe Fernettis outstanding accounts receivable.

31 Accrued interest revenue on all notes receivable.

A) Journalize the transactions for Elburn Supply Co. B) Record the collection of the Lopez note at its maturity in 2018.