Journalize the following transactions for Lucite Company.
November 14 Received a $4,800.00, 90-day, 9% note from Alan Albertson in payment of his account. December 31 Accrued interest on the Albertson note.
February 12 Received the amount due from Albertson on his note. 
Definitions:
Elasticity Of Demand
A measure of how responsive the quantity demanded of a good or service is to a change in its price.
Mark-Up
The amount added to the cost price of goods to cover overhead and profit; it is the difference between the cost of a good or service and its selling price.
Market Power
The ability of a company or entity to influence the price and output levels in a market.
Elasticity Of Demand
A measure of how much the quantity demanded of a good changes in response to a change in its price.
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