(LO1,2,3,4) Financial Statement Milton Company closes its books on its July 31 year-end. ra6A (LO , does not n ake en ries to accrue for intere texcept at its year end On June 30, the Noes Prepare entries for various redi company does not n on its July 31 year-end. he ivable account balance is $23,800. Notes Receivable includes the following. card fransactions Maker Face Value GLS Term 90 days 60 days 6 months Maturity Date July 20 July 24 December 31 Coote Inc. April 21 May 25 June 30 Brady Co. BMG Corp. S 6,000 7.800 10,000 Interest Rate 8% 10% 6% During July, the following transactions were completed. July 5 Made sales of $4,500 on Milton credit cards. 14 20 24 Made sales of $600 on Visa credit cards. The credit card service charge is 3%. Received payment in full from Coote Inc. on the amount due. Received payment in full from Brady Co. on the amount due. Instructions a. 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.)