In 2021, Florenceville Potatoes signed a $50,000 note receivable for 3 years at 5%. Interest is due monthly on the 20th of each month. Florenceville has a December 31 year end, and adjusting entries are prepared at year end only. For calculation purposes assume each month has 30 days, and round amounts to the nearest dollar. Instructions Prepare the journal entries to record the following:

a)	receipt of interest on December 20

b)	the adjusting entry to accrue interest at December 31

c)	receipt of interest on January 20