The following selected transactions were completed by Cactus Co., a supplier of velcro for clothing:
2007
Dec. 13. Received from Lady Ann's Co., on account, a $60,000, 90-day, 9% note dated December 13.
31. Recorded an adjusting entry for accrued interest on the note of December 13.
2008
Mar. 12. Received payment of note and interest from Lady Ann's Co.
Journalize the transactions.