On December $1,$ a company accepts a $$32,000,45-$day, $9\%$ note from a customer.

a$.$ Prepare the year$-$end adjusting entry to record accrued interest revenue on December $31.$

b$.$ Prepare the entry required on the note's maturity date assuming it is honored.

Note: Use $360$ days a year.

Journal entry worksheet

$1$

$2$

Record the year$-$end adjusting entry to record accrued interest revenue on December $31.$

Note: Enter debits before credits.