Base Company purchases $1,400 of merchandise from Case Company on July 10. Case accepts Base's $1,400, 10-day, 12% note as payment and makes the appropriate journal entry for this note on July 10. On July 20, Base dishonours the note. Case is going to use every legitimate means to continue collection efforts for both principal and interest. What entry would Case make on July 20?

Base Company purchases \\( \\$ 1,400 \\) of merchandise from Case Company on July 10 . Case accepts Base's \\( \\$ 1,400,10 \\)-day, \12 note as payment and makes the appropriate journal entry for this note on July 10. On July 20, Base dishonours the note. Case is going to use every legitimate means to continue collection efforts for both principal and interest. What entry would Case make on July 20