Singletary company had the following select trasactions: 2008 1) Apr. 1, 2008 Accepted Wilson Company's 1-year, 12% note in settlement of a $16,500 account receivable. 2) July 1, 2008 Loaned $24,800 cash to Richard Dent on a 9-month, 10% note. 3) Dec. 31, 2008 Accrued interest on all notes receivable. 4) Apr. 1, 2009 Received principal plus interest on the Wilson note. 5) Apr. 1, 2009 Richard Dent dishonored its note; Singletary expects it will eventually collect. Instructions Prepare journal entries to record the transactions. Singletary prepares adjusting entries once a year on December 31. Could you please explain # 3, 4, and 5? Thanks a lot