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Record the collection of the Lopez note at it's maturity in 2020. Elburn Supply Co. has the following transactions related to notes receivable during the

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Record the collection of the Lopez note at it's maturity in 2020.

Elburn Supply Co. has the following transactions related to notes receivable during the last 2 months of 2019. The company does not make entries to accrue interest except at December 31. Nov. 1 Loaned $30,000 cash to Manny Lopez on a 12 month, 10% note. Dec. 11 Sold goods to Ralph Kremer, Inc. receiving a $6.750.wo-day, 8% note. (Omit cost of goods sold entries. 16 Received a $4.000, 180 day, 9% note in exchange for Joe Fernetti's outstanding accounts receivable 31 Accrued interest revenue on all notes receivable

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