JUL Awe In the space provided or on a separate sheet of paper. 24) On November 1, 2018, Downtown Jewelers accepted a 3-month, 15% note for $6,000 in settlement of an overdue account receivable. The accounting period ends on December 31. Prepare the journal entry to record the accrued interest at the year end. Omit explanation. 25) On October 1, 2019, Island Jewelry Company accepted a 4-month, 10% note for $2,400 in settlement of an overdue account receivable. Interest revenue was accrued through December 31, 2019. Island receives the maturity value of the note at maturity. Prepare the journal entry to record the collection. Omit explanation. 26) On December 1, 2019, Pinewood Company sold machinery to a customer for $2,000. Pinewood regularly sells machinery. The customer could not pay at the time of sale but agreed to pay 9 months later and signed a 9-month note at 12% interest. Prepare the journal entry to record the revenue at the time of sale. Ignore the entry for cost of goods sold. Omit explanation