Try another version of this question On December 1, Kingman Corp. accepted a 120 day, 7%, $18,300 note receivable from J. Peterman in exchange for his account receivable. Journalize the transaction on December 1. Journalize the adjusting entry needed on December 31 to accrue interest revenue. Journalize the collection of the principal and interest at maturity. Date Description Debit Credit December 1 December 1 Date Description Debit Credit December 31 December 31 Date Description Debit Credit March 31 March 31 March 31 March 31 Date Description Debit Credit December 1 Notes Receivable 18,300 December 1 A/R 18,300 Date Description Debit Credit December 31 Interest Receivable 106.75 December 31 Interest Revenue 106.75 Date Description Debit Credit March 31 Cash 18,727.00 March 31 Notes Receivable 18,300.00 March 31 Interest Receivable 106.75 March 31 Interest Revenue 320.25