PART B: APPLICATION [19 MARKS] 1. The following are transactions for R.U. Nuts Snack Food Inc. March 1. R. U. Nuts lends Dr. Freud, an employee, $50,000 cash on a 18-month, 4% note. [1 Mark 15. Sold snacks to Inn Sain Motel on account for $15,000. The snacks cost R.U. Nuts $9,000. R.U. Nuts uses a perpetual inventory system. [2 Marks] April 1. Sold peanuts to the Elephant Zoo, receiving a $25,000, 4-month, 5% note. The peanuts cost R.U. Nuts $18,000. 12 Marks] 15. Inn Sain Motel was unable to pay its account. Inn Sain gave R.U. Nuts a 6-month, 7% note in selement of its account. [2 Marks] 30. Accrued interest revenue on all notes receivable. Interest is due at maturity. [3 Marks] August 1. Collected the amount owing on the Elephant Zoo note. [2 Marks] October 15. Inn Sain Motel defaults on the note. Future payment is expected. [2 Marks] Joumalize the above transactions on the next page. Show your calculations for full marks