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Exercise 5-15 (Algo) Record notes receivable and interest revenue (LO5-7) On March 1, Terrell & Associates provides legal services to Whole Grain Bakery regarding some

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Exercise 5-15 (Algo) Record notes receivable and interest revenue (LO5-7) On March 1, Terrell \& Associates provides legal services to Whole Grain Bakery regarding some recent food poisoning complaints. Legal services total $10,800. In payment for the services, Whole Grain Bakery signs a 8% note requiring the payment of the face amount and interest to Terrell \& Associates on September 1. Required: For Terrell \& Associates, record the acceptance of the note receivable on March 1 and the cash collection on September 1. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the acceptance of the note receivable for legal services provided. Note: Enter debits before credits. Journal entry worksheet Record the cash recelved on note recelvable and interest. Note: Enter debits before credits

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