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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. $9800, accepting a 4-month, 6.0% 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 Receivable-Kingbird Co.9800
Notes Receivable-Kingbird Co.9800
Notes Receivable-Kingbird Co.9800
Accounts Receivable-Kingbird Co.9800
Accounts Receivable-Kingbird Co.9800
Interest Expense 196
Notes Receivable-Kingbird Co.9996
Accounts Receivable-Kingbird Co.9996
\table[[Notes Receivable-Kingbird Co.,9800],[Interest Revenue,196]]
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