These transactions took place for Glavine Co.

2013 1. May 1 Received a $5,000, 12-month, 6% note in exchange for an outstanding account receivable from S. Rooney. 2. Dec. 31 Accrued interest revenue on the S. Rooney note. 2014 3. May 1 Received principal plus interest on the S. Rooney note. (No interest has been accrued since December 31, 2013.)

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

Please use the format I have provided in the photo below, and fix the errors in red. (Answers in green are correct)