On March 1·Klaus Corporation accepted a 60-day, 3%. S21.900 note receivable from

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On March 1·Klaus Corporation accepted a 60-day, 3%. S21.900 note receivable from J. Silverthorn in exchange for his account receivable Read the requirements Requirement 1. Journalize the transaction on March 1. (Record debits first, then credits. Select the explanation on the last line of the journal entry table) Date Accounts and Explanation Debit Credit Mar Requirements 1. Journalize the transaction on March 1 2. Journalize the adjusting entry needed on March 31 to accrue interest revenue. Round to the nearest dollar. 3. Journalize the collection of the principal and interest at maturity. Specify the date. Round to the nearest dollar. Print Done

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Jornal Entries

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