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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

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 $23,500 cash to Manny Lopez on a 12-month, 12% note.
Dec. 11 Sold goods to Ralph Kremer, Inc., receiving a $61,200, 90-day, 10% note.
16 Received a $97,200, 180 day, 8% note in exchange for Joe Fernettis outstanding accounts receivable.
31 Accrued interest revenue on all notes receivable.

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