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These transactions took place for Metlock Co. 2021 May 1 Received a $8,850,12 months, 8% note in exchange for an outstanding accounts receivable from Mark

image text in transcribed These transactions took place for Metlock Co. 2021 May 1 Received a $8,850,12 months, 8% note in exchange for an outstanding accounts receivable from Mark Chamber. Dec. 31 Accrued interest revenue on the Chamber note. Dec. 31 Closed the interest revenue account. 2022 May 1 Received principal plus interest on the Chamber note. (No interest has been accrued since December 31, 2021.) Record the transactions in the general journal. The company does not make entries to accrue interest except at December 31. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

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