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Outer Armour (OA) is a company that sells high quality outerwear. OA has accepted two...

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Accounting

Outer Armour (OA) is a company that sells high quality outerwear. OA has accepted two notes receivables from customers and has a December 31,2023 year-end.
Note Receivable A On September 1,2023, OA accepted a $620,000,6 months note receivable with an interest rate of 6%. Interest and the principal balance are due at maturity.
Note Receivable B On October 31,2023, OA accepted a $360,000 note receivable with an interest rate of 4.5%. Interest is paid the first day of each following month and the principal is due at maturity on June 30,2021.
Required:
1. This part of the question is not part of your Connect assignment.
2. How many month(s) need to be accrued for Notes Receivable A and B as of December 31,2023?
3. Prepare the adjusting journal entries to accrue the interest for Note Receivable A and Note Receivable B as at December 31,2023.(Round your final answers to the nearest whole dollars.)

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