Notes Receivable

5. Ch. 7: Notes Receivable: On December 1, Year 1 Kole Corporation loaned Craig Company $17,000 for one year at 6%. a. Journalize the transaction on December 1 , Year 1. b. Journalize the adjusting entry needed on December 31 , Year 1 to accrue interest revenue. c. Journalize the collection of the principal and interest at maturity. Specify the date. \begin{tabular}{|l|l|l|l|} \hline 12/1/ YR2 & & & \\ \hline & & & \\ \hline & & & \\ \hline 12/1/ YR2 & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular}