Question: I need help with preparing journal entries for this question please Following are transactions of The Barnett Company: 2020 Dec. 16 Accepted a $22,090, 60-day,
I need help with preparing journal entries for this question please

Following are transactions of The Barnett Company: 2020 Dec. 16 Accepted a $22,090, 60-day, 5% note dated this day in granting carmel Karuthers a time extension on her past-due account. Dec. 31 Made an adjusting entry to record the accrued interest on the Karuthers note Dec. 31 Closed the Interest income account. 2021 Feb. 14 Received Karuthers' payment for the principal and interest on the note dated December 16. Mar. 2 Accepted an $8, 050, 4%, 90-day note dated this day in granting a time extension on the past - due account of ATW Company. Mar . 17 Accepted a $3,250, 30-day, 4.5% note dated this day in granting Leroy Johnson a time extension on his past-due account. May 31 Received ATW's payment for the principal and interest on the note dated March 2
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