Following are transactions of the Purple Onion Company: 2019 Dec. 16 Accepted a $12,000, 60-day, 5.5% note dated this day in granting Hal Krueger a time extension on his past-due account. 31 Made an adjusting entry to record the accrued interest on the Krueger note. 31 Closed the Interest income account. 2020 Feb. 14 Received Krueger's payment for the principal and interest on the note dated December 16. Mar. 2 Accepted a $7,000, 3.75%, 90-day note dated this day in granting a time extension on the past due account of ARC Company. 17 Accepted a $2,500, 30-day, 4% note dated this day in granting Penny Bobek a time extension on her past due account. Apr. 16 Bobek dishonoured her note when presented for payment. Required: a. Prepare journal entries to record the Purple Onion's transactions. (Use 365 days in a year. Do not round intermediate calculations. Round your answers to 2 decimal places.) View transaction list Journal entry worksheet Journal entry worksheet Record the acceptance of a 5.5%, $12,000 note receivable in 60 days. Note: Enter debits before credits Date General Journal Debit Credit Dec 16, 2019 Record entry Clear entry View general journal Ches 7 b-1. Determine the maturity date of the note dated March 2 Maturity date 10 points eBook Print References b-2. Prepare the entry on the maturity date, assuming ARC Company honours the note. (Use 365 days in a year. Do not round intermediate calculations. Round your answers to 2 decimal places.) View transaction list Journal entry worksheet