Salem Hardware Supply, Inc., sells on account. When a customer account becomes four months old, Salem Hardware Supply converts the account to a note receivable. During 2018, Salem Hardware Supply completed these transactions: (Click the icon to view the transactions.) Requirement 1. Record the transactions in Salem Hardware Supply, Inc.'s journal. (Record debits first, then credits. Exclude explanations from any journal entries.) Record the sales on account. Mar Date 29 Journal Entry More info Accounts Debit Credit Accounts receivable - Montclair, Inc. Cash Interest expense Interest payable Interest receivable Interest revenue Note receivable - Montclair, Inc. Sales revenue Mar 29 Sold goods on account to Montclair, Inc., $10,000. Ignore cost of goods sold. Aug Sep 1 Received a $10,000, 60-day, 12% note from Montclair, Inc., in satisfaction of its past-due account receivable. 30 Collected the Montclair, Inc., note at maturity. Use 360-day year for interest computation and round to the nearest dollar. Print Done