Journal Entries for Accounts and Notes Receivable Dallmus, Inc., began business on January 1. Several transactions for the year follow May 2 Received a $29,800, 60 day, ten percent note on account from the Haskins Company Jul.1 Received payment from Haskins for its note plus interest. Jul.1 Received a $55,000, 120 day, ten percent note from R. Longo Company on account. Oct.30 R. Longo failed to pay its note Dec.9 Wrote off R. Longo's account as uncollectible. Dailmus, Inc, uses the allowance method of providing for credit losses. Received a $43,000, 90 day, nine percent note from R. Canal on account. Recorded expected credit losses for the year by an adjusting entry. The Allowance for Doubtful Accounts has a debit balance of $57,600 as a result of accounts written offduring this first year. An analysis of aged accounts receivables indicates that the desired balance of the allowance account is $12,600 Dec.11 Dec.31 Dec.31 Made the appropriate adjusting entries for interest Required Record the foregoing transactions and adjustments in general journal form.(Use 360 days for al interest calculations. Round all interest Income calculations to the nearest dollar.)