Kelly Realty loaned money and received the following notes during 2018

Requirement 2. Journalize the entries to establish each note Receivable and to record collection of principle and interest at maturity. Include a single adjusting entry on December 31, 2018, the fiscal year-end, to record accrued interest revenue on any applicable note. Explanations are not required. Round to the nearest dollar.

Date Principal Amount Interest Rate Term 1 year Note (1) Oct. 1 (2) Jun. 30 (3) Sep. 19 28,000 22,000 14,000 5% 10% 14% 9 months 90 days