34) On March 1, 2012, Bayonne Services made a loan to one of its officers. The officer signed a 6-month note for $4,000 at 8%. Bayonne generally accrues interest at year-end only, so at the time the note matured, Bayonne had not accrued any interest revenue. On September 1, when the note matured, the officer settled in full with the company. Please provide the journal entry made by Bayonne when the note was settled.
35) On December 1, 2013, Parsons Sales sold machinery to a customer for $2,000. The customer could not pay at the time of sale, but agreed to pay 9 months later, and sign a 9-month note at 12% interest. Please provide the journal entry to record the revenue at the time of sale. (You may disregard the entry for cost of goods sold.)
36) On December 1, 2013, Parsons Sales sold machinery to a customer for $2,000. The customer could not pay at the time of sale, but agreed to pay 9 months later, and sign a 9-month note at 12% interest. Please provide the accrual entry needed at December 31, 2013.
37) On December 1, 2013, Parsons Sales sold machinery to a customer for $2,000. The customer could not pay at the time of sale, but agreed to pay 9 months later, and sign a 9-month note at 12% interest. Parsons accrues interest only at year-end. On September 1, Parsons collected the whole amount due. Please provide the journal entry needed to record the settlement of the note.