Required information Exercise 5-17 (Static) Notes receivable-interest accrual and collection LO 5-6 [The following information applies to the questions displayed below.] Agrico Incorporated accepted an 8-month, 12% (annual rate), $7,000 note from one of its customers on July 15, 2022; interest is payable with the principal at maturity. Exercise 5-17 (Static) Part a (1) Required: a-1. Prepare the horizontal model to record the interest earned by Agrico during its year ended December 31, 2022. Note: Enter decreases to account balances with a minus sign. Assets Interest receivable Balance Sheet Liabilities Stockholders' Equity Net Income =Interest revenue Income Statement Revenues Expenses