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In the space provided on your answer sheet, prepare the journal entries for the following Note Receivable transactions. The Cyrus Wrecking Ball Rentals Company had

In the space provided on your answer sheet, prepare the journal entries for the following Note Receivable transactions. The Cyrus Wrecking Ball Rentals Company had the following transactions in 2022:

Date Transaction
May 1 Loaned Cash to Malibu Construction the amount of $25,000 on a 8 month note at 9% dated May 1
Dec 31 Received from Malibu Construction, cash for the face amount of the note plus interest.

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