Record the following transactions for Sandwich Co. in the general journal. 2010 May 1 Received a $7,500,

Question:

Record the following transactions for Sandwich Co. in the general journal.
2010
May 1 Received a $7,500, 1-year, 10% note in exchange for Julia Gonzalez’s outstanding accounts receivable.
Dec. 31 Accrued interest on the Gonzalez note.
Dec. 31 Closed the interest revenue account.
2011
May 1 Received principal plus interest on the Gonzalez note.(No interest has been accrued in 2011.)