Exercise 5-17 (Static) Notes receivableinterest accrual and collection.

Agrico Incorporated accepted an 8-month, 12% (annual rate), $7,000 note from one of its customers on July 15, 2022; interest is payable with the principal at maturity. Exercise 5-17 (Static) Part b (2) b-2. Prepare the journal entry to record collection of the note and interest at maturity. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.

Required information Exercise 5-17 (Static) Notes receivable-interest accrual and collection LO 5-6 [The following information applies to the questions displayed below.] Agrico Incorporated accepted an 8-month, 12\% (annual rate), $7,000 note from one of its customers on July 15,2022 ; interest is payable with the principal at maturity. xercise 5-17 (Static) Part b (2) -2. Prepare the journal entry to record collection of the note and interest at maturity. lote: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the collection of principal and interest at the maturity date of a shortterm note (for which some interest had been previously accrued). Note: Enter debits before credits