On August 31, 2021, Kuda Autoparts Company sold $10,000 worth of parts to Menchions Repair Company. The terms of the sale were n/60. Kuda's receivable policy is to start charging interest of 6% (annually) on all balances over 60 days. Interest is accrued monthly. [Calculate the interest using months for time.] It is now January 1st, 2022, and Menchions Repair Company has not paid the outstanding bill. Menchions Repair's owners have agreed to sign a 3-month note receivable for the balance owing on their account. 1-What is the adjusting entry on December 31,2021? 2-What is the entry on January 1 st, 2022