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Prepare journal entries to record the following transactions entered into by Glaser Company: 2019 June 1 Received a $30,000, 8%, 1-year note from Ann Duff

Prepare journal entries to record the following transactions entered into by Glaser Company:

2019

June 1 Received a $30,000, 8%, 1-year note from Ann Duff as full payment on her account.

Nov. 1 Sold merchandise on account to Malone, Inc. for $18,000, terms 2/10, n/30.

Nov. 5 Malone, Inc. returned merchandise worth $500.

Nov. 9 Received payment in full from Malone, Inc.

Dec. 31 Accrued interest on Duff's note.

2020

June 1 Ann Duff honored her promissory note by sending the face amount plus interest. No interest has been accrued in 2020.

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