On October $1,2025,$ Oriole Equipment Company sold a pecan$-$harvesting machine to Valco Brothers Farm, Inc. In lieu

of a cash payment Valco Brothers Farm gave Arden a $2-$year, $$110,800,10\%$ note $($a realistic rate of interest for a note

of this type$).$ The note required interest to be paid annually on October $1.$ Oriole's financial statements are prepared on

a calendar$-$year basis.

Assuming Valco Brothers Farm fulfills all the terms of the note, prepare the necessary journal entries for Oriole

Equipment Company for the entire term of the note. $($Record journal entries in the order presented in the

problem. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.

Credit account titles are automatically indented when the amount is entered. Do not indent

manually. List all debit entries before credit entries.$)$

Account Titles and Explanation

Debit

$110800$

Sales Revenue

Interest Receivable

Interest Revenue

Cash

Interest Receivable

Interest Revenue

Interest Receivable

Interest Revenue

Interest Receivable

$($To record the collection of interest$)$

$($To record the collection of the note$)$

Credit

Notes Receivable