M8-12 Recording Note Receivable Transactions [LO 8-3] RecRoom Equipment Company received an $12,000, sx-month, 7 percent note to settle an $12,000 unpaic customer a The note is accepted by RecRoom on November 1, causing the company to increase its Notes Receivable and decrease its Accounts Receivable. b. RecRoom adjusts its records for interest earned to its December 31 year-end c RecRoom receives the interest on the note's maturity date. d. RecRoom receives the principal on the note's maturity date Prepare journal entries to record the above transactions for RecRoom. (If no entry is required for a trensaction/event, select Journal Entry Required" in the first account field. Do not round intermediate colculations.) View transaction list Journal entry worksheet Record the receipt of a note on November 1 for $12,000 to settle an outstanding accounts receivable balance of a customer