Journal Entries (Note Received, Renewed, and Collected) Jan. 16 Received a 30-day, 9% note in payment for merchandise sale of $19,500. Feb. 15 Received $150 (interest) on the old (January 16) note; the old note is renewed for 30 days at 11%. Mar. 17 Received principal and interest on the new (February 15) note. 19 Received a 60-day, 9% note in payment for accounts receivable balance of $9,100. May 18 Received $137 (interest) plus $1,000 principal on the old (March 19) note; the old note is renewed for 60 days (from May 18) at 9%. July 17 Received principal and interest on the new (May 18) note. Prepare general journal entries for the transactions. Assume 360 days in a year. Page: DATE ACCOUNT TITLE DOC. POST. NO. REF. DEBIT CREDIT 20- 1 Notes Receivable Jan. 16 2 Sales 33 3 2 Sales 3 4 Feb. 15 Cash 5 6 7 8 Notes Receivable (new note) Notes Receivable (old note) Interest Revenue 9 Mar. 17 Cash 10 Notes Receivable 11 Interest Revenue 12 13 Mar. 19 Notes Receivable 14 15 Accounts Receivable 16 May 18 Cash Notes Receivable (new note) 17 18 Notes Receivable (old note) 19 Interest Revenue 20 21 July 17 Cash 22 Notes Receivable 23 Interest Revenue 24 00000 00000 0000 000 00 0000 0 000 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24