Answers
Your answer to present journal entry is absolutly correct.
Each and every journal entry has been perfectly fixed. However one change could be made that is Debit the account Note receivable instead of interest receivable. Since the interest will likely to receive with the principal amount of note receivables.
You are suggested to change name of interest receivable with 6% Note receivable in the journal entry of december 31.
Please comment for any additional explanation.
Thanks
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