These transactions took place for Blossom Company

2016
May 1		Received a $4,300, 12-month, 9% note in exchange for an outstanding account receivable from R. Stoney.
Dec. 31		Accrued interest revenue on the R. Stoney note.
2017
May 1		Received principal plus interest on the R. Stoney note. (No interest has been accrued since December 31, 2016.)

Record the transactions in the general journal. The company does not make entries to accrue interest except at December 31.

Account Titles and Explanation Date May 1, 2016 d TNotes Receivable Accounts Receivable Dec. 31, 2016 2 Interest Receivable Interest Revenue DT U May 1, 2017 d Cash Notes Receivable Interest Revenue Notes Receivable Debit 4300 387 4687 Credit 4300 387 4687 387