Don't give answer in image format Ivanhoe Company closes its books on its July 31 year-end. The company does not make entries to accrue for interest except ayear-end. On June 30, the Notes Receivable account balance is $27,000. Notes Receivable include the following.DateApril 21May 25June 30July 51420Maker24Coote Inc.Brady Co.BMG Corp.Face Value$4,800During July, the following transactions were completed.7,80014,400Term90 days60 days6 monthsMaturity DateJuly 20July 24December 31Interest RateMade sales of $4,530 on Ivanhoe credit cards.Made sales of $500 on Visa credit cards. The credit card service charge is 3%.Received payment in full from Coote Inc. on the amount due.Received payment in full from Brady Co. on the amount due.8%10%6% Enter the balances at July 1 in the receivable accounts and post the entries to all of the receivable accounts. (Post entries in theorder of journal entries presented in the previous part.)Notes ReceivableAccounts ReceivableInterest Receivable

Notes receivable are assets which is reported on the balance sheet. It is a kind of promissory note.…

Ivanhoe Company closes its books on its July 31 year-end. The company does not make entries to accrue for interes year-end. On June 30, the Notes Receivable account balance is $27,000. Notes Receivable include the following. Date April 21 May 25 June 30 July 5 14 20 Maker 24 Coote Inc. Brady Co. BMG Corp. Face Value $4,800 7,800 During July, the following transactions were completed. 14,400 Term 90 days 60 days 6 months Maturity Date July 20 July 24 December 31- Interest Rate 8% Made sales of $4,530 on Ivanhoe credit cards. Made sales of $500 on Visa credit cards. The credit card service charge is 3%. Received payment in full from Coote Inc. on the amount due. Received payment in full from Brady Co. on the amount due.. 10% 6%