Chapter 8 Homework Question 6 of 7 0.5/1 E Current Attempt in Progress Milton Company closes its books on its July 31 year-end. The company does not make entries to accrue for interest except at its year-end. On June 30, the Notes Receivable account balance is $23,800. Notes Receivable includes the following. Date Maker Maturity Date Interest Rate April 21 Coote Inc. $6,000 90 days July 20 8% May 25 Brady Co. 7,800 60 days July 24 BMG Corp 10,000 6 months December 31 6% Face Value Term 10% June 30 During July, the following transactions were completed, July 5 14 20 24 Made sales of $4,500 on Milton Company credit cards. Made sales of $600 on Visa credit cards. The credit card service charge is 3%. Received payment in full from Coote Inc. on the amount due. Received payment in full from Brady Co. on the amount due. Question 6 of 7 0.5/1 III ACCOUNt mes and explanation Deon Creuil July 5 4 Accounts Receivable 4500 Sales Revenue 4500 July 14 Cash 582 Service Charge Expense 18 Sales Revenue 600 July 20 Cash 6120 Interest Revenue 120 Notes Receivable 6000 July 24 Cash 7930 Interest Revenue 130 Notes Receivable 7800 July 31 Interest Receivable 50 Interest Revenue 50 Question b of /