Question 7 of 10 View Policies Current Attempt in Progress These transactions took place for Marigold Corp.. 2021 1 Received a $3,600, 12-months, 12% note in exchange for an outstanding account receivable from R. Stoney. Dec. 31 Accrued interest revenue on the R. Stoney note. May 2022

May 1 Received principal plus interest on the R. Stoney note. (No interest has been accrued since December 31, 2021.) Record the transactions in the general journal. The company does not make entries to accrue interest except at December 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date May 1, 2021 Dec. 31, 2021 Account Titles and Explanation Notes Receivable Accounts Receivable Interest Receivable Interest Revenue Debit 3600 432 Credit 3600 432

Record the transactions in the general journal. The company does not make entries to accrue interest except at December 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)