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Entries for Notes Receivable, including Year-End Entries The following selected transactions were completed by Interlocking Devices Co., a supplier of zippers for clothing: 2017 Dec.

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Entries for Notes Receivable, including Year-End Entries The following selected transactions were completed by Interlocking Devices Co., a supplier of zippers for clothing: 2017 Dec. 10. Dec. 31. Received from Unitarian Clothing & Bags Co, on account, a $72,000, 90 day, 7% note dated December 10, Recorded an adjusting entry for accrued interest on the note of December 10, Recorded the closing entry for interest revenue. Dec. 31 2018 Mar. 10. Received payment of note and interest from Unitarian Clothing & Bags Co. Journaline the entries to record the transactions. Assume 360 days in a year. If an amount box does not require an entry, leave it blank. Assume February has 28 days in 2018 If required, round the interest to the nearest cent 2017, Dec, 10 Notes Racerlobte v Accounts Receivable Unitarian Clothing and Bags CO. 2017. Dec. 31.Adjusting Interest Receivable Tinterest Revenge 2017. 11- Interest Reven Ice Summary Check W inprogress=false Interest Revenue 2017. Dec. 31-Closing Interest Revenue Income Summary 2018, Mar. 10 Cash 1 1111 Notes Receivable Interest Receivable Interest Revenue The due date is the date the note is to be paid Femember the interest rate is stated on an annual basis, while the term is expressed as days. Assume a 360-day year. The maturity value is the amount that must be the note me due date, the company records the receipt of payment on the note. AW o al co

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