Prepare journal entries to record Allarco Inc.'s transactions Round all values to the nearest cent. a. January 1, 2014 Allarco Inc. accepted a note from Frank Levens for $4,100, 60-day, 12% dated this day granting a time extension on the past-due account. b. Determine the date that transaction (a) matures and record the entry to show the collection Enter the transaction letter as the description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (ie. January 15 would be 15/Jan). General Journal Account/Explanation Page Gj1 Credit Date F Debit +=1