| Receivables I have an assignment due and I due not how to journalize the information that is given
Dec 7.
we received notice from the local bank that w.white's $3500 note due today was dishonoured when presented with payment. The note was previously discounted for us in september with the terms of 90 days @7%. The local bank charged $30 for handling the transaction.
after that entry there is another entry needed to be posted and it is
Dec.17
received payment in full today for the $3500 note referred to in the december 7 transaction. (include interest after maturity) |