Sarasota Corp. 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 $23,200. Notes Receivable include the following. Date Maker Face Value Term Maturity Date Interest Rate April 21 May 25 Coote Inc. $5,200 90 days July 20 8% Brady Co. 7,200 60 days July 24 11% June 30 BMG Corp. 10,800 6 months December 31 8% During July, the following transactions were completed. July 5 Made sales of $4,470 on Sarasota Corp. credit cards. 14 Made sales of $400 on Visa credit cards. The credit card service charge is 4%. 20 Received payment in full from Coote Inc. on the amount due. 24 24 Received payment in full from Brady Co. on the amount due. Date Account Titles and Explanation Debit Credit July 14 > Enter the balances at July 1 in the receivable accounts and post the entries to all of the receivable accounts. (Post entries in the order of journal entries posted in the previous part.) Notes Receivable Accounts Receivable Interest Receivable