QS $7-14($Algo$)$ Note receivable interest and maturity LO P$4$

On December $1,$ Daw Company accepts a $$32,000,45-$day, $9\%$ note from a customer.

$(1)$ Prepare the year$-$end adjusting entry to record accrued interest revenue on December $31.$

$(2)$ Prepare the entry required on the note's maturity date assuming it is honored.

Note: Use $360$ days a year.

Journal entry worksheet

Record the year$-$end adjustment related to this note, if any.

Note: Enter debits before credits.