On April 1, 2018, Shoemaker Corporation realizes that one of its main suppliers is having difficulty meeting delivery schedules, which is hurting Shoemaker's business. The supplier explains that it has a temporary lack of funds that is slowing its production cycle. Shoemaker agrees to lend $500,000 to its supplier using a 12-month, 12% note. Required: 1. The loan of $500,000 and acceptance of the note receivable on April 1, 2018. 2. The adjustment for accrued interest on December 31, 2018. 3. Cash collection of the note and interest on April 1, 2019. Record the above transactions for Shoemaker Corporation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 3 Record the note. Note: Enter debits before credits. General Journal Debit Credit Date April 01, 2018 Record entry Clear entry View general journal View transaction list View journal entry worksheet No General Journal Debit Credit Date April 01, 2018 1 Notes receivable Cash 2 December 31, 2018 Interest receivable Interest revenue April 01, 2019 Cash Notes receivable Interest receivable Interest revenue