Problem $8-17$A Discounting notes receivable LO$6$

Following are transactions of Leduc Company:

$2023$

Dec. $11$ Accepted a $$15,000,6\%,60-$day note dated this day in granting Fred Calhoun a time extension on his past$-$due account.

$31$ Made an adjusting entry to record the accrued interest on the Fred Calhoun note.

$31$ Closed the Interest income account.

$2024$

Jan. $10$ Discounted the Fred Calhoun note at the bank at $7\%.$

Feb. $10$ The Fred Calhoun note was dishonoured. Paid the bank the maturity value of the note plus a $$30$ fee.

Mar. $5$ Accepted a $$4,500,5\mathrm{.}5\%,60-$day note dated this day in granting a time extension on the past$-$due account of Donna Reed.

$29$ Discounted the Donna Reed note at the bank at $7\mathrm{.}5\%.$

May $7$ The Donna Reed note had been received by the bank and paid by Donna Reed.

June $9$ Accepted a $$6,750,60-$day, $5\%$ note dated this day in granting a time extension on the past$-$due account of Jack Miller.

Aug. $8$ Received payment of the maturity value of the Jack Miller note.

$11$ Accepted an $$8,000,60-$day, $5\%$ note dated this day in granting Roger Addison a time extension on his past$-$due account.

$31$ Discounted the Roger Addison note at the bank at $6\mathrm{.}5\%.$

oct. $12$ The Roger Addison note was dishonoured. Paid the bank the maturity value of the note