Exercise $5-17($Algo$)$ Notes receivable$$interest accrual and collection LO $5-6$

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Agrico Incorporated accepted a $8-$month, $10\%($annual rate$),$ $$5,200$ note from one of its customers on July $15,2022$; interest is payable with the principal at maturity.

Exercise $5-17($Algo$)$ Part a $(1)$

Required:

a$-1.$ Prepare the horizontal model to record the interest earned by Agrico during its year ended December $31,2022.$

Note: Enter decreases to account balances with a minus sign. Do not round your intermediate calculation. Round your final answers to two decimal places.