Chapter 9, Problem P9.40BPGB

Accounting for notes receivable, dishonored notes, and accrued interest revenue
Leaming Objective 4
March 6, 2019 Interest Revenue $128
Consider the following transactions for TLC Cornpany.

2018
Dec. 6	Received a $8,000, 90-day, 9% note in settlement of an overdue accounts receivable from Forest Music.
31	Made an adjusting entry to accrue interest on the Forest Music note.
31	Made a closing entry for interest revenue.
2019
Mar. 6	Collected the maturity value of the Forest Music note.
Jun. 30	Loaned $14,000 cash to Washington Music, receiving a six-month, 12% note.
Oct. 2	Received a $1,000, 60-day, 12% note tor a sale to ZZZ Music. Ignore Cost of Goods Sold.
Dec. 1	ZZZ Music dishonored its note at maturity.
1	Wrote oft the receivable associated with ZZZ Music. (Use the allowance method.)
30	Collected the maturity value of the Washington Music note.

Journalize all transactions for TLC Company. Round all amounts to the nearest dollar.