The following information relates to the Wallstrom Company at the end of 2022. The accounting period is the calendar year. 1. A note for $24,000 was received from a customer in a sales transaction on August 1, 2022. The note matures in February 1 and bears 10% annual interest. 2. On September 1, 2022, Wallstrom borrowed $12,000 cash by signing a note payable due in March 1 at 6% annual interest. Instructions Using the information given above, prepare the necessary adjusting entries and the journal entries for the maturity of the notes assuming that company is making: a) Monthly adjustment b) Quarterly adjustment