Prepare journal entries to record the following transactions entered into by the Ayayai Corp.: (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)
June 1 Received a $12,000, 8%, 1-year note from Dan Gore as full payment on his account.
Nov. 1 Sold merchandise on account to Barlow, Inc., for $16,000, terms 3/10, n/30.
Nov. 5 Barlow, Inc., returned merchandise worth $1,300.
Nov. 9 Received payment in full from Barlow, Inc.
Dec. 31 Accrued interest on Gore's note.
June 1 Dan Gore honored his promissory note by sending the face amount plus interest.