On December 11, 2016, Hooper Inc. made a credit sale to Marshall Company and required Marshall to sign a $27,000, 60-day note. Required: Prepare the journal entries necessary to record the receipt of the note by Hooper, the accrual of interest on December 31, 2016, and the customer's repayment on February 9, 2017, assuming: 1. Interest of 9% was assessed in addition to the face value of the note. 2. The note was issued as a $27,000 non-interest-bearing note with a present value of $26,598. The implicit interest rate on the note receivable was 9%. Assume a 360-day year. Prepare the journal entries necessary to record the receipt of the note by Hooper, the accrual of interest on December 31, 2016, and the customer's repayment on February 9, 2017, assuming an interest rate of 9% was assessed in addition to the face value of the note. Additional Instruction How does grading work? PAGE 12 GENERAL JOURNAL Score: 74/100 ACCOUNT TITLE POST. REF. DEBIT CREDIT DATE Dec 11 Notes Receivable 27,000.00 Sales Revenue 27,000.00 Dec. 31 Interest Receivable 135.00 Interest Income 135.00 Feb. 19 Interest Income Interest Receivable 135.00 Notes Receivable Interest Income