I want an answer with explanation.

2.

At the beginning of the current period, Novak Corp. had balances in Accounts Receivable of $299.000 and in Allowance for Doubtful Accounts of $9,500 (credit). During the period, it had net credit sales of 5840,000 and collections of 5798,000 , It wrote off a5 uncollectible accounts receivable of $6,300. However, a $3,700 account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $24.200 at the end of the period. (Omit cost of goods sold entries.) No. Account Titles and Explanation (a) (Torecord sales) (Torecord cash collected during the period) (To reinstate account previously written off) Eorecord the recovery of the uncollectible account during the period) These transactions took place for Cheyenne Co. 2021 May 1 Received a $22,200,12 months, 10% note in exchange for an outstanding accounts recervable from Mark Chamben Dec. 31 Accrued interest revenue on the Chamber note. Dec. 31 Closed the interest revenue account. 2022 May 2 Received principal plusintereston the Chamber note. (No interest has been accrued since December 31.2021 ). Record the transactions in the reneral journal. The company does not make entries to accrue interest except at December 31 . (Record journal entries in the order presented in the problem. Credit account tities are autamatically indented when omount is eritered Do noc indent maruailyd. Record the transactions in the general journal. The company does not make entries to accrue interest except at December 3 i. (Record loumal entries in the order presented in the problem. Credit occount titles are automotically indented when amount is enterd Donot indent manually.) 13 (To record accrued interest on note) (To close the interest revenue account.)