On December 1, Kole Corporation accepted a 120-day, 6%,$7,300 note recelvable from J. Olver in exchange for his accocunt recelvable. Read the recuromonts. ize the transaction on December 1 . (Record debits first, then credits. Select the explanation on the last line of Requirements 1. Journalize the transaction on December 1. 2. Journalize the adjusting entry needed on December 31 to accrue interest revenue. Round to the nearest dollar. 3. Journalize the collection of the principal and interest at maturity. Specify the date. Round to the nearest dollar