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Bramble Co . loaned Kingbird Co . $ 9 8 0 0 , accepting a 4 - month, 6 . 0 % promissory note in
Bramble Co loaned Kingbird Co $ accepting a month, promissory note in exchange. On the due date, Kingbird Co indicated that it could not pay at the present time. Bramble would make the following entry at the time the note is dishonoured assuming Bramble expected payment from Kingbird:
Accounts ReceivableKingbird Co
Notes ReceivableKingbird Co
Notes ReceivableKingbird Co
Accounts ReceivableKingbird Co
Accounts ReceivableKingbird Co
Interest Expense
Notes ReceivableKingbird Co
Accounts ReceivableKingbird Co
tableNotes ReceivableKingbird CoInterest Revenue,
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