Exercise 4- Your Company uses the 360 day convention. a) On 12/12/09 Your Co. loaned B Co. $12000 on a 9% 30 day note. Record the journal entries at issuance, year end, and maturity. Assume interest is paid at maturity and the 360 day convention is used General Journal Date Account/Explanation PR Debit Credit 12/12/09 Note Receivable 12,000.00 Cash 120,000.00 (B Co. $ 120009% 30 day note) 12/31/09 Interest Receivable Interest Revenue Accrue interest) Cash Interest Receivable Note Receivable Interest Revenue 12,000.00 (Maturity of note) b) On 11/16/09 Your Co. loaned G Co. $30000 on a 11% 90 day note. Record the journal entries at issuance, year end, and maturity. Assume interest is paid at maturity and the 360 day convention is used General Journal Account/Explanation Debit 30,000.00 Date PR Credit 11/16/09 Note Receivable Cash 30,000.00 (G Co. $30000 11% 90 day note) 12/31/09 Interest Receivable Interest Revenue (Accrue interest) Cash Interest Receivable Note Receivable Interest Revenue Maturity of note)