Question: My main issue with this following problem is the Interest Receivable and the Interest Revenue, I got everything else correct but I am unsure about

My main issue with this following problem is the Interest Receivable and the Interest Revenue, I got everything else correct but I am unsure about these two. Thank you for your help!

Bramble Corp. has the following transactions related to notes receivable during the last 2 months of 2020. The company does not make entries to accrue interest except at December 31.

Nov. 1 Loaned $13,200 cash to Manny Lopez on a 12 month, 10% note.
Dec. 11 Sold goods to Ralph Kremer, Inc., receiving a $24,750, 90-day, 8% note.
16 Received a $29,100, 180 day, 8% note in exchange for Joe Fernettis outstanding accounts receivable.
31 Accrued interest revenue on all notes receivable

Journalize the transactions for Bramble Corp. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Use 360 days for calculation. Round answers to 0 decimal places, e.g. 5,275. Record journal entries in the order presented in the problem.)

Date

Account Titles and Explanation

Debit

Credit

Nov. 1

Notes Receivable

Cash

enter a debit amount

enter a credit amount

11Dec.

Notes Receivable

enter a debit amount

enter a credit amount

Sales Revenue

enter a debit amount

enter a credit amount

Dec. 16

Notes Receivable

enter a debit amount

enter a credit amount

Accounts Receivable

enter a debit amount

enter a credit amount

Dec. 31

Interest Receivable

enter a debit amount

enter a credit amount

Interest Revenue

enter a debit amount

enter a credit amount

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