Entries for Notes Receivable, Including Year-End Entries

The following selected transactions were completed by Fasteners Inc. Co., a supplier of buttons and zippers for clothing:

20Y3
Nov. 21.		Received from McKenna Outer Wear Co., on account, a $96,000, 60-day, 10% note dated November 21 in settlement of a past due account.
Dec. 31.		Recorded an adjusting entry for accrued interest on the note of November 21.
20Y4
Jan. 20.		Received payment of note and interest from McKenna Outer Wear Co.

Journalize the entries to record the transactions. If an amount box does not require an entry, leave it blank. Assume a 360-day year when calculating interest. Round answers to the nearest dollar amount.

20Y3, Nov. 21	Accounts Receivable-McKenna Outer Wear Co.Allowance for Doubtful AccountsCashInterest ReceivableNotes ReceivableNotes Receivable	Notes Receivable	Notes Receivable
	Accounts Receivable-McKenna Outer Wear Co.Allowance for Doubtful AccountsCashInterest ReceivableNotes ReceivableAccounts Receivable-McKenna Outer Wear Co.	Accounts Receivable-McKenna Outer Wear Co.	Accounts Receivable-McKenna Outer Wear Co.
Dec. 31	CashInterest ExpenseInterest PayableInterest ReceivableNotes ReceivableInterest Receivable	Interest Receivable	Interest Receivable
	CashInterest ExpenseInterest PayableInterest RevenueNotes ReceivableInterest Revenue	Interest Revenue	Interest Revenue
20Y4, Jan. 20	Allowance for Doubtful AccountsCashInterest ReceivableInterest RevenueNotes ReceivableCash	Cash	Cash
	Allowance for Doubtful AccountsCashInterest PayableNotes PayableNotes ReceivableInterest Payable	Interest Payable	Interest Payable
	Allowance for Doubtful AccountsCashInterest PayableInterest ReceivableUnearned InterestInterest Receivable	Interest Receivable	Interest Receivable
	Allowance for Doubtful AccountsCashInterest ExpenseInterest PayableInterest RevenueInterest Revenue	Interest Revenue	Interest Revenue