please journalize those entries according to instruction, and use accounts: Interest Receivable/Payable, Note Receivable, Sales, Cash, Interest revenue, Account Receivable.

Assignment Attached Ples Notes receivable assignment xx (8 964 KB Instructions: Prepare the journal entries for the transactions. Staples uses a periodic inventory system Staples hos May 31 Fiscal year end Selected transactions in the year included the following an to Sold 57000 of merchandise to MNP ltd terms w/30 Feb 3. Accepted 510000. 3 month. w promissory note from MNP d. for the balance due sed away to transaction interest must be paid monthly Feb 21. Sold 45000 of merchandise to KPMG, term 110 Mar Collected the monthly interest payment from MNP itd.(see February 3 transaction Mars Accepted a 10,000, mort, 5.5 note from KPMG for as balance dun, with interest payable at maturity Mar 31 Accrued interest on any outstanding notes Aprit Collected the monthly interest payment from MNP d. (see February a transaction) May 1 collected MNP note in full set February transaction JKPMG dishonours is note on Marches expected that KPMG will eventually pay the amount owed. 15 Sold 58000 of merchandise to ESY and accepted 56000, 3 months note for the amount due, with interest payable with maturity October 15 Ey note was dishonoured tie july 15 transaction in bankrupt and it is anticipated that the amount will never be collected