Jung & Newbicalm Advertising $($JNA$)$ recently hired a new creative director, Howard Rachell, for its Madison Avenue office in New York. To persuade Howard to move from San Francisco, JNA agreed to advance him $$150,000$ on April $30,2021,$ on a one$-$year, $9$ percent note, with interest payments required on October $31,2021,$ and April $30,2022.$ JNA issues quarterly financial statements on March $31,$ June $30,$ September $30,$ and December $31.$

Required:

Prepare journal entries to record the note$$s issuance, interest earned, and interest payments received for each quarter and on each payment date. $($If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your final answers to whole dollar amount$)$

To record the promissory note created on April $30,2021.($TIP: See Demonstration Case B for a similar problem.$)$

To record the interest accruals at each quarter$-$end and interest payments at each payment date $($TIP: Interest receivable will be accrued at the end of each quarter, and then will be reduced when the interest payment is received.$)$

To record the principal payment at the maturity date.

Record the receipt of interest for the period ending October $31,2021.$