The following selected transactions were completed by Fasteners Inc. Co., a supplier of buttons and zippers for clothing: 20Y3 Nov. 21 Dec. 31 20Y4 Received from McKenna Outer Wear Co., on account, a $66,000, 60-day, 8% note dated November 21 in settlement of a past due account. Recorded an adjusting entry for accrued interest on the note of November 21. Jan. 20 Received payment of note and interest from McKenna Outer Wear Co. Required: Journalize the entries to record the transactions. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. If no entry is required, simply skip to the next transaction. Assume a 360-day year when calculating interest. CHART OF ACCOUNTS Fasteners Inc. Co. General Ledger ASSETS 110 Cash 111 Petty Cash 121 Accounts Receivable-McKenna Outer Wear Co. 129 Allowance for Doubtful Accounts 131 Interest Receivable 132 Notes Receivable 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Merchandise Sold 520 Sales Salaries Expense 521 Advertising Expense 522 Depreciation Expense-Store Equipment 523 Delivery Expense 151 Prepaid Insurance 181 Land 191 Store Equipment 192 Accumulated Depreciation-Store Equipment 524 Repairs Expense 529 Selling Expenses 530 Office Salaries Expense 531 Rent Expense 193 Office Equipment 194 Accumulated Depreciation-Office Equipment LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 215 Notes Payable 532 Depreciation Expense-Office Equipment 533 Insurance Expense 534 Office Supplies Expense 535 Store Supplies Expense 536 Credit Card Expense 537 Cash Short and Over 538 Bad Debt Expense 539 Miscellaneous Expense 710 Interest Expense EQUITY 310 Owner, Capital 311 Owner, Drawing 312 Income Summary