Accounting for Notes Receivable On November 30, Tucker Products performed computer programming services for Thomas Inc....

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Accounting for Notes Receivable On November 30, Tucker Products performed computer programming services for Thomas Inc. in exchange for a 5-month, $53,500, 12% note receivable. Thomas paid Tucker the full amount of interest and principal on April 30. Required: Prepare the necessary entries for Tucker to record the transactions described above assuming a December 31 year end. If an amount box does not require an entry, leave it blank. Round your final answer to the nearest dollar. Nov. 30 Notes Receivable Interest Receivable (Record issuance of the note) Dec. 31 Interest Receivable 53,500 267 Interest Income (Record accrued interest income) Apr. 30 Cash Notes Receivable Interest Receivable (Record collection of note receivable) 267 267 53,500 Accounting for Notes Receivable On November 30, Tucker Products performed computer programming services for Thomas Inc. in exchange for a 5-month, $53,500, 12% note receivable. Thomas paid Tucker the full amount of interest and principal on April 30. Required: Prepare the necessary entries for Tucker to record the transactions described above assuming a December 31 year end. If an amount box does not require an entry, leave it blank. Round your final answer to the nearest dollar. Nov. 30 Notes Receivable Interest Receivable (Record issuance of the note) Dec. 31 Interest Receivable 53,500 267 Interest Income (Record accrued interest income) Apr. 30 Cash Notes Receivable Interest Receivable (Record collection of note receivable) 267 267 53,500