Prepare the journal entries to record the above transactions (round to 2 decimal places).

Thank you

ACCT 102F - W2022 Assignment #4 Due: Tues Mar 29 @ 5pm Question 3: Olsen Company, which has a December 31 year end, completed the following transactions during 2021 and 2022: 2021 Oct. 8 Oct. 31 Dec. 7 Dec. 31 Completed service for Parson Company, receiving a 60-day, 8% note for $5,000. Completed service for Kerri Company receiving a 90-day, 7% note for $7,500. Parson Company defaulted on the note. Accrued interest on the Kerri Company note. 2022 Jan. 29 Collected in full from Kerri Company. Required Prepare the journal entries to record the above transactions (round to 2 decimal places). (13 marks)