Prepare journal entries to record these transactions: (Round your answers to 2 decimal places.)

Oct.	31	Accepted a $22,500, six-month, 3.0% note dated today from Leann Grimes in granting a time extension on her past-due account.
Dec.	31	Adjusted the books for the interest due on the Grimes note.
Apr.	30	Grimes honoured her note when presented for payment.

journal entries

1- Record entry for note accepted for $22,500, for 6 months at 3.00% dated today from Leann Grimes in granting a time extension on her past-due account.

2- Record adjusting entry for the interest due on the Grimes note.

3- Record the note honored, when presented for payment.