Record the following transactions for Redeker Co. in the general journal.
|May 1||Received a $9,000, 12-month 10% note in exchange for Mark Chamber's outstanding accounts receivable.|
|Dec. 31||Accrued interest on the Chamber note.|
|Dec. 31||Closed the interest revenue account.|
|May 1||Received principal plus interest on the Chamber note.(no interest has been accrued in 2021|