Problem $8-13$A Accrued interest calculation and dishonouring note receivable LO$4$

Following are transactions of the Purple Onion Company:

$2022$

Dec. $16$ Accepted a $$18,000,60-$day, $5\mathrm{.}5\%$ note dated this day in granting Hal Krueger a time extension on his past$-$due account.

$31$ Made an adjusting entry to record the accrued interest on the Krueger note.

$31$ Closed the Interest income account.

$2023$

Feb. $14$ Received Krueger$$s payment for the principal and interest on the note dated December $16.$

Mar. $2$ Accepted a $$13,000,3\mathrm{.}75\%,90-$day note dated this day in granting a time extension on the past$-$due account of ARC Company.

$17$ Accepted a $$4,500,30-$day, $4\%$ note dated this day in granting Penny Bobek a time extension on her past$-$due account.

Apr. $16$ Bobek dishonoured her note when presented for payment.