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$2024$

Dec. $6$ Received a $$4,000,90-$day, $12\%$ note in settlement of an overdue accounts receivable from All Star.

Dec. $31$ Made an adjusting entry to accrue interest on the All Star note.

Dec. $31$ Made a closing entry for interest revenue.

$2025$

Mar. $6$ Collected the maturity value of the All Star note.

Jun. $30$ Loaned $$14,000$ cash to Love Joy Music, receiving a six$-$month, $12\%$ note.

Oct. $2$ Received a $$9,000,60-$day, $12\%$ note for a sale to Salem Sounds. Ignore Cost of Goods Sold.

Dec. $1$ Salem Sounds dishonored its note at maturity.

Dec. $1$ Wrote off the receivable associated with Salem Sounds. $($Use the allowance method.$)$

Dec. $30$ Collected the maturity value of the Love Joy Music note.