Kolton Company closes its books on its July 31 year-end. The company does not make entries to accrue for interest except at its year-end. On June 30, the Notes Receivable account balance is $23,800. Notes Receivable include the following.

Journalize the July transactions and the July 31 adjusting entry for accrued interest receivable. (Interest is computed using 360 days; omit cost of goods sold entries.)

Please use the format in the image below:

List of possible accounts:

Accounts Payable Accounts Receivable Accumulated Depreciation-Equipment Allowance for Doubtful Accounts Bad Debt Expense Cash Common Stock Cost of Goods Sold Dividends Income Tax Expense Income Taxes Payable Interest Receivable Interest Revenue Inventory No Entry Notes Receivable Other Operating Expenses Other Receivables Retained Earnings Sales Discounts Sales Returns and Allowances Sales Revenue Service Charge Expense Supplies Supplies Expense

Maker Booth Inc. Manning Co. ANF Corp. Face Value Maturity Date Date April 21 May 25 June 30 Term $6,000 90 days uly 20 7,800 60 days uly 24 Interest Rate 8% 1090 690 10,000 6 months December 31 During July, the following transactions were completed. Made sales of $4,500 on Kolton credit cards. Made sales of $600 on Visa credit cards. The credit card service charge is 3%. Received payment in full from Booth Inc. on the amount due. Received payment in full from Manning Co. on the amount due. July 5 14 20 24