Indigo Corporation closes its books on its July 31 year-end. The company does not make entries to accrue for interest except at its year-end. On June 30, the Notes Receivable account balance is $29,400. Notes Receivable include the following. Date Maker Face Value Term Interest Rate Coote Inc. 8% April 21 May 25 $6,000 9,000 14,400 Maturity Date July 20 July 24 December 31 90 days 60 days 6 months Brady Co. BMG Corp. 10% June 30 8% During July, the following transactions were completed. July 5 14 Made sales of $4,800 on Indigo Corporation credit cards. Made sales of $500 on Visa credit cards. The credit card service charge is 5%. Received payment in full from Coote Inc. on the amount due. Received payment in full from Brady Co. on the amount due. 20 24 Journalize the July transactions and the July 31 adjusting entry for accrued interest receivable. (Interest is computed using 360 days; omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit July 14 Enter the balances at July 1 in the receivable accounts and post the entries to all of the receivable accounts. (Post entries in the order of journal entries posted in the previous part.) Notes Receivable Accounts Receivable Interest Receivable Show the balance sheet presentation of the receivable accounts at July 31. Indigo Corporation Balance Sheet (Partial) $ $