Try another version of these questions A table of notes receivable for 2020 follows: For each of the notes receivable, compute the amount of interest revenue earned during 2020. Round to the nearest dollar. Runway Company has a six-month $27,500, 5% note receivable from Breezy Winters signed on June 1, 2020. Breezy Winters defaults on the loan on December 1. Journalize the entry for Runway Company to record the default of the loan. Notes Principal Interest Rate Period Note 1 $29,500 2% 10 months Note 2 $7,600 5% 270 days Note 3 $30,000 15% 150 days Note 4 $111,200 8% 8 months Notes Principal Interest Rate Interest Period Interest Revenue Earned Note 1 10/12 Note 2 270/360 Note 3 150/360 Note 4 8/12 Notes Principal Interest Rate Interest Period Interest Revenue Earned Note 1 29,500 2 10/12 492 Note 2 7,600 5 270/360 285 Note 3 30,000 15 150/360 1875 Note 4 111,200 8 8/12 5931 Date Description Debit Credit December 1 December 1 December 1 Date Description Debit Credit December 1 A/R 28,187.50 December 1 Notes Receivable 27,500.00 December 1 Interest Revenue 687.50