These transactions took place for Splish Brothers Inc..

$2021$

May $1$

Received a $$9,600,12-$months, $8\%$ note in exchange for an outstanding account receivable from $R.$ Stoney.

Dec $31$ Accrued interest revenue on the R$.$ Stoney note.

$2022$

May $1$ Received principal plus interest on the R$.$ Stoney 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 $31.($Credlit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the omounts.$)$

$$ Account Titles and Explanation

Debit

Credit