On November 1, 2021, Pearl City Inc. accepted a three-month, 10%, $73,200 note from Vermillion Inc. in settlement of its account. Interest is due on the first day of each month, starting December 1. Both companies year ends are December 31.

Prepare all journal entries for Pearl City over the term of the note. Assume that the note is collected in full on the maturity date. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)