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In the journal provided, prepare entries for the following (assume 360 day interest period): Omit explanations. Show ALL interest calculations. Dec. Mar. Date 1

 

In the journal provided, prepare entries for the following (assume 360 day interest period): Omit explanations. Show ALL interest calculations. Dec. Mar. Date 1 Received a three-month, 15 percent note receivable for $3,920 from a customer as an extension of his past-due account. 31 Made the year-end adjustment for accrued interest. 1 Received full payment on the note. General Journal Description Post. Ref. Debit Page Credit

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