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Record the following transactions for Blossom Co. in the general journal. (Record journal entries in the order presented in the problem. Credit account titles are

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Record the following transactions for Blossom Co. in the general journal. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) 2020 May 1 Dec 31 Received a 14,550, 12 months, 10% note in exchange for Mark Chamber's outstanding accounts receivable. Accrued interest on the Chamber note, Closed the interest revenue account. Dec 31 2021 May 1 Received principal plus interest on the Chamber note. (No interest has been accrued in 2021.) Date Account Titles and Explanation Debit Credit May 1, 2020 Notes Receivable 14550 Accounts Receivable 14,550 Dec 31, 2020 Interest Receivable 970 Interest Revenue 970 To record accrued interest on note:) (To close the interest revenue account Date Account Titles and Explanation Debit Credit May 1, 2020 Notes Receivable 14550 Accounts Receivable 14,550 Dec 31, 2020 Interest Receivable 970 970 Interest Revenue (To record accrued interest on note.) (To close the interest revenue account.) C MI

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