Is the following account correctly prepared? If not, prepare it correctly: To Interest (Interest received) 700 By Balance b/d (Cash in hand) 2,200 To Walter (For cash purchases) 1,000 By Commission (Commission received) 600 To Sales (For the old furniture) 1,200 To Balance 500 By Chadwick Roose (For goods purchased on credit) 600 3,400 3,400