Question 4 (12 marks) Baylor Company only prepares its financial statements annually at its December 31 year- end. On December 13, 2020, Baylor agreed to settle a past due $10,000 account receivable by accepting, instead of cash, a 90-day, 7% $10,000 note receivable from its customer, Davis Enterprises, which had run into some financial difficulties and needed extra time to pay. REQUIRED: a) Give the journal entry made by Baylor Company on December 13. (2 marks) b) Give the necessary adjusting entry at December 31 to record the accrual of interest at year-end. (2 marks) c) Determine the maturity date of the note. (1 mark) d) Give the journal entry on the maturity date assuming that the full amount owing was received from Davis Enterprises. (4 marks) e) Record the journal entry for part (d), assuming that Davis Enterprises was not able to pay the amount owing on the due date of the note. (3 marks) Record your answers below (additional space on following page): Date Account Debit Credit