October 17- Sold office equipment in exchange for $135,000 cash plus receipt of a $100,000, 90-day, 9% note. The equipment had a cost of $320,000 and accumulated depreciation of $64,000 as of October 17.

Journalize following:

Interest was accrued on the note receivable received on October 17. Assume 360 days per year.

Interest receivable (dr)_______________

Interest revenue (cr)________________