Prepare journal entries to record these transactions (round the answer to two decimal places):
Oct. 31 Accepted a $1 5,000, six-month, 4.5% note dated today from Leann Grimes in granting a time extension on her past-due account.
Dec. 31 Adjusted the books for the interest due on the Grimes note.
Apr. 30 Grimes honoured her note when presented for payment.