Exercise 8-13 CALCULATOR FULL SCREEN BACK Your answer is partially correct. Try again. Record the following transactions for Kingbird, Inc. in the general journal. (Credit account titles are automatically indented when amount is entered. Do not manually. Record journal entries in the order presented in the problem.) 2019 May Dec. Dec 2020 May 1 Received a $25,250, 12-months, 8% note in exchange for Mark Chamber's outstanding accounts receivable 31 Accrued interest on the Chamber note. 31 Closed the interest revenue account. 1 Received principal plus interest on the Chamber note. (No interest has been accrued in 2020.) Date Account Titles and Explanation Debit Credit May 1, 2019 Notes Receivable 26250 Accounts Receivable 26250 X Dec 31, 2019 Interest Receivable 1750 Interest Revenue 1750 Todaci 1 CALCULATOR Accounts Receivable FULL SCREEN PRINTER VERSION 26250 Dec 31, 2019 Interest Receivable 1750 Interest Revenue 1750 (To record accrued interest on note.) Dec 31, 2019 Interest Revenue 875 Income Summary 875 (To close the interest revenue account.) May 1, 2020 Cash 28875 Interest Receivable 1750 x Interest Revenue 1050 Notes Receivable 26250