blossom company excepts $30,000, four months, 7% no receivable in settlement of an account receivable on June 1, 2024. interest is to be paid at maturity. Blossom company has a December 31 year end and it adjust its account annually

Blossom Company accepts a $30,000, four-month, 7% note receivable in settlement of an account receivable on June 1,2024. Interest is to be paid at maturity. Blossom Company has a December 31 year end and adjusts its accounts annually. (Note: Blossom Company uses only one allowance account for both accounts and notes receivable.) 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 0 for the amounts. List all debit entries before credit entries.)