2 of 2 View Policies < Current Attempt in Progress -/11 Sheridan Company accepts a $24,000, four-month, 7% note receivable in settlement of an account receivable on June 1, 2021 Interest is to be paid at maturity. Sheridan Company has a December 31 year end and adjusts its accounts annually (Note: Sheridan Company uses only one allowance account for both accounts and notes receivable) Record (1) the issue of the note on June 1 and (2) the settlement of the note on October 1, assuming the note is honoured. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem) Date Account Titles and Explanation June 1 Notes Receivable Accounts Receivable (Accept note for accounts receivable) Oct 1 Cash Debit 24000 2456d Credit 24000 Question 2 of 2 > Cote or accounts recta Oct. 1 Cash Notes Receivable Interest Revenu (To record collection of note receivable and interest) eTextbook and Media List of Accounts 24560 -/1 E 24000 560 Assume instead that the note is dishonoured but eventual collection is expected. Record the October 1 journal entry. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Question 2 of 2 < -71 Assume instead that the note is dishonoured but eventual collection is expected. Record the October 1 journal entry. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Date Account Titles and Explanation Oct. 19 (To record dishonouring of note where collection is expected) eTextbook and Media List of Accounts Debit Credit CA 05:44 Question 2 of 2 < -/1 E Assume instead that the note is dishonoured and eventual collection is not expected. Record the October 1 journal entry. (Credit account titles are automatically Indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Date Account Titles and Explanation Oct. 1 Debit Credit (To record dishonouring of note where collection is not expected) eTextbook and Media List of Accounts