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These transactions took place for Ralston Co. 2009 May 1 Received a $12,300, 1-year, 9% note in exchange for an outstanding account receivable from S.
These transactions took place for Ralston Co. 2009 May 1 Received a $12,300, 1-year, 9% note in exchange for an outstanding account receivable from S. Dolan. Dec. 31 Accrued interest revenue on the S. Dolan note. 2010 May 1 Received principal plus interest on the S. Dolan note. (No interest has been accrued since December 31, 2009.) Record the transactions in the general journal. (List multiple debit/credit entries from largest to smallest amount, e.g. 10, 5, 2.) Date Account/Description Debit Credit May 1, 2009 Notes receivable Accounts receivable Dec. 31, 2009 Interest receivable Interest revenue May 1, 2010 Cash Notes receivable Interest receivable Interest revenue
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