Pharoah 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 $27,600. Notes Receivable include the following. Date April 21 May 25 June 30 July 5 14 20 Maker 24 Coote Inc. Brady Co. BMG Corp. Face Value $6,000 8.400 13,200 During July, the following transactions were completed. Term 90 days 60 days 6 months 1 Maturity Date July 20 July 24 December 31 Interest Rate 11% Made sales of $4,060 on Pharoah credit cards. Made sales of $900 on Visa credit cards. The credit card service charge is 3%. Received payment in full from Coote Inc. on the amount due. Received payment in full from Brady Co. on the amount due. 5%

Journalize the July transactions and the July 31 adjusting entry for accucd interest receivable linterest is computed using 360 days) (Omit cost of poods sold entries) (thst olf detit entries before credi entries. Credit account tibles are automatically indented when amount is entered. Do not hadent manualy. Record jourmal entries in the onfer presented in the problem. If no entry is required, select "No Entry" for the account titkes and enter ofor the ancunte) Pharoah 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 $27,600. Notes Receivable include the following During July, the following transactions were completed. July 5 Madesales of $4,060 on Pharoah credit cards. 14 Made sales of $900 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