pter 8 hapter 8 Notes Receivable journal entries. Prepare the journal entries for the following transactions. 1) On April 1, 2016, Vandolay loans a $10,000 note to a custom The note which bears a 10% annual interest becomes: due on(Mar required journal entry to record the notes receivable er opening a new store. ch 31, 2017. Prepare the 2) On December 31, 2016, Vandolay accrued interest for the portion of the year that the note was outstanding. (April-December). Prepare the required adjusting entry for interest. 3) On March 31, 2017, Vandolay received all interest and principle for the Prepare the required journal entry for the receipts of interest (hint; this entry will require both the interest revenue and interest receivable accounts). note. 4) Record the journal entry for the receipt of the principal portion of the note receivable