Assess Your Progress 347 rning Objective 4: Accounting for notes receivable and accrued interest revenue) P5-77B (Lea Qul ck Meals completed the following selected transactions: 20x6 Nov 30 Dec 31 20x7 Feb 28 Mar 1 Sold goods to Bragg Market, receiving a 32,000, three-month, 4.00% note. Made an adjusting entry to accrue interest on the Bragg Market note. Collected the Bragg Market note. Received a 90-day, 8.00%, 7,200 note from Don's Market on account. 1 Sold the Don's Market note to Chelmsford Bank, receiving cash of Dec 16 Dec 31 7,000. (Debit the difference to financing expense.) Lent 15,400 cash to Stratford Provisions, receiving a 90-day, 9.50% note. Accrued the interest on the Stratford Provisions note. I Requirements 1. Record the transactions in Quick Meals' journal. Round all amounts to the nearest dollar. Explanations are not required. 2. Show what Quick Meals will report on its comparative classified balance sheet at December 31, 20X7, and December 31, 20X6