QUESTION 7 (13 marks) Following are transactions of Century Industries. 2013 November 1 Accepted a $7,500, three-month, 8% note in granting Ajax Industries an extension on its past-due account. December 31 Made an adjusting entry related to the Ajax Industries note. 2014 January 31 February 1 Ajax Industries paid the note and interest in full. Provided $50,000 in services to Metropolitan Company. Accepted Metropolitan's two-month, 10% note as payment. Metropolitan Company dishonoured its note when presented for payment. March 31 REQUIRED: Prepare journal entries to record Century's transactions. Century does not make reversing entries. Round all calculations to the nearest dollar amount. Show all calculations