Based on the following selected data, journalize the adjusting entries as of December 31 of the current year.

October 17: Sold office equipment in exchange for $96,000 cash plus receipt of a $64,000, 90-day, 6% note. The equipment had a cost of $224,000 and accumulated depreciation of $44,800 as of October 17.

Interest was accrued on the note receivable received on October 17. Assume 360 days per year.

I’m using this procedure

64000x.6×90/360=9600

Journalize

Interest receivable = 9600

            Interest revenue = 9600

But the when I check my work it give me a wrong answer, why? What it’s missing?