$(1)$

Required information

$[$The following information applies to the questions displayed below$]$

Agrico Incorporated accepted a $8-$month, $11\%($annual rate$),$ $$5,000$ note from one of its customers on July $15,2022$;

interest is payable with the principal at maturity.

b$-1.$ Prepare the horizontal model to record collection of the note and interest at maturity.

Note: Enter decreases to account balances with a minus sign. Do not round your intermediate calculation. Round your final

answers to two decimal places.