On March 1, Krauss Corporation accepted a 60-day, 3%. $29,200 note receivable from J. Silverthorn in exchange for his account receivable. Read the requirements Requirement 1. Journalize the transaction on March 1. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Mar. 1 Choose from any list or enter any number in the input fields and then continue to the next question Requirement 2. Journalize the adjusting entry needed on March 31 to accrue interest revenue Round to the nearest dollar. (Record debits first, then credits Select the explanation on the last line of the journal entry table. For notes stated in days, use a 365-day year) Date Accounts and Explanation Debit Credit Mar. 31 Requirement 3. Journalize the collection of the principal and interest at maturity. Specify the date. Round to the nearest dollar. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. For notes stated in days, use a 365-day year.) Date Accounts and Explanation Debit Credit