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These transactions took place for Sheffield Corp. 2016 May 1 Dec. 31 2017 Received a...

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These transactions took place for Sheffield Corp. 2016 May 1 Dec. 31 2017 Received a $4,600, 12-month, 3% note in exchange for an outstanding account receivable from R. Stoney. Accrued interest revenue on the R. Stoney note. May 1 Received principal plus interest on the R. Stoney note. (No interest has been accrued since December 31, 2016.) Record the transactions in the general journal. The company does not make entries to accrue interest except at December 31.Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit May 1, 2016 Notes Receivable 4,600 Accounts Receivable 4,600 Dec. 31, 2016 Interest Receivable 138 Interest Revenue 138 May 1, 2017 Cash 4,784 Interest Revenue 46 Interest Receivable 138 Notes Receivable 4,600

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