Vaughn Supply Co. has the following transactions related to notes receivable during the last 2 months of 2020. The company does not make entries to accrue interest except at December 31. Nov. 1 Loaned HK$12,600 cash to Manny Lopez on a 12-month, 10% note. Sold goods to Ralph Kremer, Inc., receiving a HK$24,750, 90-day, 8% note. Dec. 11 16 Received a HK$22,800, 180 day, 10% note in exchange for Joe Fernetti's outstanding accounts receivable. 31 Accrued interest revenue on all notes receivable. (a) Your answer is correct. Journalize the transactions for Vaughn Supply Co. (Ignore entries for cost of goods sold.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Use 360 days for calculation. Round answers to O decimal places, e.g. 5,275. Record journal entries in the order presented in the problem.) Account Titles and Explanation Debit Credit Notes Receivable 12600 Cash 12600 Notes Receivable 24750 Sales Revenue 24750 Notes Receivable 22800 Accounts Receivable 22800 Interest Receivable 415 Interest Revenue 415 (b) Record the collection of the Lopez note at its maturity in 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Use 360 days for calculation.) Date Account Titles and Explanation Debit Credit Nov. 1 List of Accounts Save for Later Attempts: unlimited Submit