M8-12 Recording Note Receivable Transactions [LO 8-3] RecRoom Equipment Company received an $12,600, six-month, 5 percent note to settle an $12,600 unpaid balance owed by a 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. (f no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) View transaction list View journal entry worksheet No Date General Journal Debit Credit Nov 01Notes Payable (short-term) 12,600 Accounts Receivable 12,600 2 Dec 31 Interest Receivable 105 Interest Revenue 105 Apr 30 Cash Interest Revenue Interest Receivable 4 Apr 30 Cash 12,600 Notes Receivable (short-term) 12,600