Following are transactions of the Purple Onion Company: 2019 Dec. 16 Accepted a $21,000, 60-day, 5.5% note dated this day in granting Hai 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 $16,000, 3.75%, 90-day note dated this day in granting a time extension on the past-due account of ARC Company. 17 Accepted a $7,500, 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 is Journal entry worksheet Record the acceptance of a 5.5%, $21,000 note receivable in 60 days. 1 Record the acceptance of a 5.5%, $21,000 note receivable in 60 days. 2 Record the entry to accrued interest Record the closing of interest revenue account * Record the cash receipt of principal and interest. Record the acceptance of a 3.75%, $16,000 note receivable in 90 days. Credit Note: - Journal entry has been entered Record entry Clear entry View general journal 3 Record the closing of interest revenue account. 4 Record the cash receipt of principal and interest. 5 Record the acceptance of a 3.75%, $16,000 note receivable in 90 days. 6 Record the acceptance of a 4%, $7,500 note receivable in 30 days. 7 Record the dishonour of note. Note : = journal entry has been entered Record entry Clear entry Vie b-1. Determine the maturity date of the note dated March 2. Maturity date 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 Record the collection of principal and interest on the note Credit