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does this entry affect the accounting equation ndicate the effect on financial statement items by selecting "-" for decrease (or negative effect), "+" for increase (or positive effect) and "NE" for No Entry (or no effect) on the financial statement. Journal Balance Sheet Income Statement Stockholders' Net Date Description Debit Credit Assets Liabilities Equity Revenues Expenses Income 2016 Dec. Interest Receivable 31 1,218 1,218 Interest Revenue How does this entry affect the accounting equation? Nicate the effect on financial statement items by selecting "-" for decrease (or negative effect),"+" for increase (or positive effect) and "NE" for No Entry (or no effect) on the financial statement. Journal Balance Sheet Income Statement Stockholders' Net Date Description Debit Credit Assets Liabilities Equity Revenues Expenses Income 2017 Mar. Cash 1 53,418 1,218 Interest Receivable 609 Interest Revenue Notes Receivable 52,200 Notes Receivable On September 1, 2016, Seacrest Inc. accepted a six-month, 7%, $52,200 interest-bearing note from Delgado Enterprises in payment of an account receivable. Seacrest's year-end is December 31. Delgado paid the note and interest on the due date. Assume 360 days in the year. Required: 1. Who is the maker and who is the payee of the note? The maker is Delgado Enterprises and the payee is Seacrest Inc. 2. What is the maturity date of the note? March 1, 2017 3. Prepare all necessary journal entries that Seacrest Inc. needs to make in connection with this note. How does this entry affect the accounting equation? Indicate the effect on financial statement items by selecting "-" for decrease (or negative effect), "+" for increase (or positive effect) and "NE" for No Entry (or no effect) on the financial statement. Journal Balance Sheet Income Statement Stockholders' Net Date Description Debit Credit Assets = Liabilities Equity Revenues Expenses Income 2016 Sept. Notes Receivable 52,200 52,200 Accounts Receivable