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I do not understand how to do these particular journal entries! Please help May 1: Received a $5,000, 12-month, 6% note in exchange for an

I do not understand how to do these particular journal entries! Please help image text in transcribed

May 1: Received a $5,000, 12-month, 6% note in exchange for an outstanding account receivable from S. Rooney. Dec 31 : Accrued interest revenue on the S. Rooney note. May 1 : Received principal plus interest on the S. Rooney note (no interest has been accrued since December 31, 2013)

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