Question: These transactions took place for Renda Co. 2011 May 1 Received a $5,000, 1-year, 6% note in exchange for an outstanding account receivable from S.

These transactions took place for Renda Co.
2011
May 1 Received a $5,000, 1-year, 6% note in exchange for an outstanding account receivable from S. Dorsey.
Dec. 31 Accrued interest revenue on the S. Dorsey note.
2012
May 1 Received principal plus interest on the S. Dorsey note. (No interest has been accrued since December 31, 2011.)
Instructions
Record the transactions in the general journal.

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