Question: Please explain your answer. Thank you! Learning Objective 4 E8-25 Journalizing note receivable transactions Professional Steam Cleaning performs services on account. When a customer account

Please explain your answer. Thank you!

Learning Objective 4 E8-25 Journalizing note receivable transactions Professional Steam Cleaning performs services on account. When a customer account becomes four months old, Professional converts the account to a note receivable. During 2018, the company completed the following transactions: Oct. 31 Cash DR $18,355 Apr. 28 Performed service on account for Parkview Club, $18,000. Sep. 1 Received an $18,000, 60-day, 12% note from Parkview Club in satisfaction of its past-due account receivable. Oct. 31 Collected the Parkview Club note at maturity. Record the transactions in Professional's journal. Round to the nearest dollar

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