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Problem 5. Bermuda Distributors has the following transactions related to notes receivable during the last...

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Problem 5. Bermuda Distributors has the following transactions related to notes receivable during the last two months of the year. Dec. 1 Loaned $12,000 cash to S. Toffer on a 1-year, 10% note. 15 31 Sold goods to J. James, receiving a $2.400, 60-day, 12% note. Accrued interest revenue on all notes receivable. Instructions: Journalize the transactions for Bermuda Distributors 2-1

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