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Presented below are data on three promissory notes. Determine the missing amounts. Date of note terms Maturity rate Principal April 1 July 2 March7 60 days 30days 6 months ? ? ? 600000 90000 120000 annual interest 5% ? 10% Total interest ? $600 ? on december 31 2013, russel co. estimated 2% of its net sales of 360, 000 will become uncollectible. The company recorded this amount as an addition to allowance for doubtful accounts. On may 11 2014, Russell co. determined that the B. Vetter account was uncollectible and wrote off 1,100. On june 12 2014 , vetter paid the amount previously written off. Prepare journal entries on December 31, 2013, may 11, 2014 and june 12, 2014 2014 2014 May 1 Dec31 Dec 31 2015 May 1 Received a 7500, 1 year 9% note in exchange for len monroe's outstanding accounts receivable Accrued interest on the Monroe account Closed the interest revenue account Received principal plus interest on the Monroe note(no interest has been accrued in 2015