Sandhill Co. closes its books on its July 31 year-end. The company does not make entries to accrue for interest except at its year-end. On June 30, the Notes Receivable account balance is $25,800. Notes Receivable include the following.

Date		Maker		Face Value		Term		Maturity Date		Interest Rate
April 21		Coote Inc.		$4,800		90 days		July 20		8%
May 25		Brady Co.		9,000		60 days		July 24		10%
June 30		BMG Corp.		12,000		6 months		December 31		6%

During July, the following transactions were completed.

July 5		Made sales of $4,050 on Sandhill Co. credit cards.
14		Made sales of $700 on Visa credit cards. The credit card service charge is 3%.
20		Received payment in full from Coote Inc. on the amount due.
24		Received payment in full from Brady Co. on the amount due.

Sandhill Co.closes its books on its July 31 year-end. The company does not make entries to accrue for interest except at its year- end. On June 30, the Notes Receivable account balance is $25.800. Notes Receivable include the following. Date April 21 May 25 June 30 Maker Coote Inc Brady Co. BMG Corp. Face Value $4.800 9,000 12,000 Term 90 days 60 days 6 months Maturity Date July 20 July 24 December 31 Interest Rate 8% 10% 6% During July, the following transactions were completed. July 5 14 Made sales of $4,050 on Sandhill Co. credit cards. Made sales of $700 on Visa credit cards. The credit card service charge is 3%. Received payment in full from Coote Inc. on the amount due. Received payment in full from Brady Co. on the amount due. 20 24 Journalize the July transactions and the July 31 adjusting entry for accrued interest receivable. (Interest is computed using 360 days; omit cost of goods sold entries. (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 Account Titles and Explanation Debit Credit July 14 Journalize the July transactions and the July 31 adjusting entry for accrued interest receivable. (Interest is computed using 360 days; omit cost of goods sold entries.) (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 Account Titles and Explanation Debit Credit July 14