Homework: Chapter 8 Homework (Copy) Score: 0 of 1 pt 7 of 9 (5 complete) S8-11 (book/static) On December 1, Kyle Corporation accepted a 60-day, 9 % , $12,000 note receivable from J. Michael in exchange for his account receivable. Read the tequirements Requirement 1. Journalize the transaction on December 1. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Dec. 1