The following selected transactions were completed by Fasteners Inc. Co., a supplier of buttons and zippers for clothing:

20Y3
Nov.	21	Received from McKenna Outer Wear Co., on account, a $48,000, 60-day, 6% note dated November 21 in settlement of a past due account.
Dec.	31	Recorded an adjusting entry for accrued interest on the note of November 21.
20Y4
Jan.	20	Received payment of note and interest from McKenna Outer Wear Co.

Journalize the entries to record the transactions. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account titles. Assume a 360-day year when calculating interest. Round answers to the nearest dollar amount.

Instructions Journal The following selected transactions were completed by Fasteners Inc. Co., a supplier of buttons and zippers for clothing 2013 Nov. Journalize the entries to record the transactions for the year 2073. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account bles. Assume a 360-day year when calculating interest. Round answers to the nearest dollar amount. 21 Received from McKenna Outer Wear Co., on account, a S48,000, 60-day, 6% note dated November 21 in settlement of a past due Bacount. 31 Recorded an adjusting entry for accrued interest on the note of November 21. Dec. PAGE 1 ACCOUNTING EQUATION ASSETS LIABILITIESQUITY JOURNAL DESCRIPTION 2014 Jan. DATE PO DEBIT CREDIT 20 Received payment of note and interest from McKenna Outer Wear Co. Journalize the entries to record the transactions. I no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account titles. Assume a 360-day year when calculating interest. Round answers to the nearest dollar amount. Journalize the entries to record the transactions for the year 2014. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account bitles. Assume a 360-day year when calculating interest. Round answers to the nearest dolar amount JOURNAL DESCRIPTION PAGE 1 ACCOUNTING EQUATION ASSETS LIABILITIESQUITY DATE POST DEBIT CREDIT