P9-6B Sauer Co. closes its books monthly. On June 30, selected ledger account balances are: Prepare notes re Notes Receivable Interest Receivable $47,000 285 LO 1, 2 Notes Receivable include the following. GLS Interest 7% 9% 8% Maker Face Term Date May 16 May 25 June 30 60 days 60 days 6 months Eddy Inc. $12,000 20,000 15,000 Masasi Co. Pelsma Corp. During July, the following transactions were completed. July 5 Made sales of $7,200 on Sauer Co. credit cards. 14 14 Made sales of $1,000 on Visa credit cards. The credit card service charge is 3%. Added $510 to Sauer Co. credit card customer balances for finance charges on unpaid balances. 15 Received payment in full from Eddy Inc. on the amount due 24 Received notice that the Masasi Co. note has been dishonored. (Assume that Masasi Co. is expected to pay in the future.) Instructions (a) Journalize the July transactions and the July 31 adjusting entry for accrued interest receivable. (Interest is computed using 360 days.) (b) Enter the balances at July 1 in the receivable accounts. Post the entries to all of the (b) Acco $28, (c) Total receivable accounts. (c) Show the balance sheet presentation of the receivable accounts at July 31