Assume that on the note's maturlty date, Ayzyal informs Kingblrd that It is having cash flow problems and can pay KIngblrd only

$70\%$ of the note's face value. After extenslve dlscusslons with Ayayal's management, KIngtrd's credit and collectlons department

considers the remaining balance of the note uncollectlble. Prepare the entry requlred on Kingblrd's books on the note's maturlty

date. $($For calculation purposes, use $5$ decimal places as displayed in the foctor table provided. 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 $0$ for

the amounts. List all debit entries before credit entries.$)$

Account Titles and Explanation

Debit

Credit