Oriole Company closes its books on its July 31 year-end. The company does not make entries to accrue for interest except at its year- end. On June 30, the Notes Receivable account balance is $26,600. Notes Receivable include the following. Date: Maker Face Value Term Maturity Date Interest Rate April 21 Coote Inc. $5,600 90 days July 20 8% May 25 Brady Co. 9,000 60 days July 241 10% June 30 BMG Corp. 12,000 6 months December 31 8% During July, the following transactions were completed. July 5 Made sales of $4,850 on Oriole credit cards. 14 Made sales of $800 on Visa credit cards. The credit card service charge is 3% 20 Received payment in full from Coote Inc. on the amount due. 24 Received payment in full from Brady Co. on the amount due. Journalize the July transactions and the July 31 adjusting entry for accrued interest receivable. (Interest is computed using 360 days; omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem) Date: Account Titles and Explanation July 5 Accounts Receivable Sales Revenue July 14 Cash Service Charge Expense Sales Revenue July 201 Cash Notes Receivable Interest Revenue July 24 Cash Notes Receivable Debit 4850 776 24 Credit 450 800 5600 July 31 Interest Receivable- Interest Revenue eTextbook and Media 9000 Enter the balances at July 1 in the receivable accounts and post the entries to all of the receivable accounts. (Post entries in the order of journal entries posted in the previous part.) Notes Receivable 7/1 Bal. 6000 Accounts Receivable Interest Receivable Show the balance sheet presentation of the receivable accounts at July 31. Milton Company Balance Sheet (Partial) Current Assets