(a) Parks Company receives a $10,000, 3-month, 8% promissory note from Todd Company in settlement of an open receivable. What entry will Parks Company make upon receiving the note? (b) On January 15, 2017. Raymond Company received a two-month, 9%, $5,000 note from William Pentel for the settlement of his open account. The entry by Raymond Company on March 15, 2017 if Pentel dishonors the note and collection is expected is