The following selected transactions were completed by Cactus Co., a supplier of velcro for clothing:

2007

 

Dec. 13.

Received from Lady Ann’s Co., on account, a $60,000, 90 day, 9% note dated December 13.

31.

Recorded an adjusting entry for accrued interest on the note of December 13. 2008

Mar. 12.

Received payment of note and interest from Lady Ann’s Co.

Journalize the transaction.