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Maxell Solutions sells video conferencing solutions for businesses. On November 1, 2018, Maxell sold a $912,800 video conferencing platform to Willow Co. In return, Maxell

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Maxell Solutions sells video conferencing solutions for businesses. On November 1, 2018, Maxell sold a $912,800 video conferencing platform to Willow Co. In return, Maxell agreed to accept a $950,000 3-month, non-interest-bearing note due on February 1, 2019. Maxell prepares financial statements at the end of every calendar year . Prepare all journal entries necessary for the term of the note for Maxell. (Record debits first, then credits. Exclude explanations from any journal entries. Round your answers to the nearest whole dollar.) On November 1, 2018, Maxell sold a $912,800 video conferencing platform to Willow Co. In return, Maxell agreed to accept a $950,000 3-month, non-interest-bearing note. Account November 1, 2018 On December 31, 2018, Maxell records interest revenue. Account December 31, 2018 On February 1, 2019, Maxell records the collection of the note. Account February 1, 2019 On February 1, 2019, Maxell records interest revenue. Account February 1, 2019

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