Following are transactions of Leduc Company: 2023 Dec. 11 Accepted a $14,000, 6%, 60-day note dated this day in granting Fred Calhoun a time extension on his past-due account. 31 Made an adjusting entry to record the accrued interest on the Fred Calhoun note. 31 Closed the Interest income account. 2021 Jan. 10 Discounted the Fred Calhoun note at the bank at 7%. Feb. 10 The Fred Calhoun note was dishonoured. Paid the bank the maturity value of the note plus a $30 fee. Mar. 5 Accepted a $3,500, 5.5%, 60-day note dated this day in granting a time extension on the past-due account of Donna Reed. 29 Discounted the Donna Reed note at the bank at 7.5%. May 7 The Donna Reed note had been received