Question: The following selected transactions were completed by Interlocking Devices Co., a supplier of zippers for clothing: 20Y7 Dec. 7 Received from Unitarian Clothing & Bags

The following selected transactions were completed by Interlocking Devices Co., a supplier of zippers for clothing:

20Y7
Dec. 7 Received from Unitarian Clothing & Bags Co., on account, a $36,000, 60-day, 6% note dated December 7.
31 Recorded an adjusting entry for accrued interest on the note of December 7.
31 Recorded the closing entry for interest revenue.
20Y8
Feb. 5 Received payment of note and interest from Unitarian Clothing & Bags Co.

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