Oct. 1 - Sold $17,500 of merchandise on account, 1/10, n/30 to McCormick Industries. Nov. 1 - Received a $17,500, 90-day, 9% note from McCormick Industries to settle its $17,5C balance. Dec. 31 - Accrued interest on the note. Jan. 31 - Received the interest on the note's maturity date. Jan. 31 - Received the principal on the note's maturity date.repare the required journal entries. (Kound your answer to the nearest whole dollar amount, it no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)