Exercise 5-17A Record notes receivable and interest revenue (LO5-7) On April 1, 2021, Shoemaker Corporation realizes that one of its main suppliers is having difficulty meeting delivery schedules, which is hurting Shoemaker's business. The supplier explains that it has a temporary lack of funds that is slowing its production cycle. Shoemaker agrees to lend $600,000 to its supplier using a 12-month, 11% note. Required: 1. The loan of $600,000 and acceptance of the note receivable on April 1, 2021. 2. The adjustment for accrued interest on December 31, 2021. 3. Cash collection of the note and interest on April 1, 2022. Record the above transactions for Shoemaker Corporation. (If no entry is required for a particular trnsaction/event, select "No Journal Entry Required" in the first account field.) View transaction list ances Journal entry worksheet 1 Record the loan of $600,000 and acceptance of the note receivable on April 1, 2021 Note Enter debits before credits Credit Art 01, 2021 General Journal Notes Receivable Cash Debit 600.000 500.000 5 8 ew transaction list Journal entry worksheet MacBook 3 4 5 6