Please show the steps for any equations Jan 20 is incorrect.

Entries for Notes Receivable, Including Year-End Entries

The following selected transactions were completed by Fasteners Inc. Co., a supplier of buttons and zippers for clothing:

20Y3
Nov. 21.		Received from McKenna Outer Wear Co., on account, a $96,000, 60-day, 3% note dated November 21 in settlement of a past due account.
Dec. 31.		Recorded an adjusting entry for accrued interest on the note of November 21.
20Y4
Jan. 20.		Received payment of note and interest from McKenna Outer Wear Co.

Journalize the entries to record the transactions. If an amount box does not require an entry, leave it blank. Assume a 360-day year when calculating interest.

20Y3, Nov. 21	Notes Receivable	96,000
	Accounts Receivable-McKenna Outer Wear Co.		96,000

Dec. 31	Interest Receivable	320
	Interest Revenue		320

20Y4, Jan. 20	Cash	96,000
	Notes Receivable		460
	Interest Receivable		320
	Interest Revenue	Interest Revenue	Interest Revenue 96,480