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Exercise 5-15 (Algo) Record notes receivable and interest revenue (LO5-7) On March 1, Terrell & Assoclates 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 & Assoclates provides legal services to Whole Grain Bakery regarding some recent food poisoning complaints Legal services total $9,800 in payment for the services, Whole Gratn Bakery signs a 10% note requiring the payment of the face amount and interest to Terrell & Assoclates on September 1. Required: For Terrell \& Associates, record the acceptance of the note recelvable on March 1 and the cash collection on September 1 . (it no entry is requlred for a particular transaction/event, select "No Journal Entry Requlred" In the first occount fleld.) Journal entry worksheet 2 Record the acceptance of the note receivable for legal services provided. Nocel Enter dabies bof ore credits

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