Q 1.Prepare journal entries for the following selected transactions relate to Dylan Company ple May 1, 2017 Accepted Crane ple's 12-month, 12\% note in settlement of a 516,000 account receivable. Dec. 31, 2017 Accrued interest on notes receivable Sep 1: 2018 Received a $30,000,8%,1-year note from John Duff as full payment on her account. Sep 3: 2018 Accrued interest John's note. Sep 5: 2018 Ann Duff honored her promissory note by sending the face amount plus interest. No interest has been accrued in 2018. Sep 7: Sold $12000 of accounts receivable to Good Factors, Inc. who assesses a 2\% finance charge Sep 13: Made Visa credit card sales totaling 6,700. A 3% service fee is charged by Visa.5 Sep 15: Direct wrote off as uncollectible 16,000 of accounts receivable. Dylan uses the percentage-of-sales basis to bad debts Q2: Hong Kong Stores accepts both its own and national credit cards. During the year, the following selected summary transactions occurred. 20 Jan. Made Visa credit card sales (service charge fee 2% ) totaling HK $4,800 Feb. 10 Collected HK $11,000 on Hong Kong credit card sales. Mar 12, Received Juno Ltd.'s 20,000,6-month, 12% note for balance due