Brief Exercise 8-12 Xavier Limited accepts a three-month, 6%, $40,000 note receivable in settlement of an account receivable on April 1, 2018. Interest is due at maturity Prepare the journal entries required by Xavier Limited to record the issue of the note on April 1, and the settlement of the note on July 1, assuming the note is honoured and that no interest has previously been accrued. (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 o for the amounts.) Date Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS Prepare the journal entries required by Xavier Limited to record the issue of the note on April 1, and the settlement of the note on July 1, assuming that the notes dishonoured, but eventual collection is expected. (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 o for the amounts.) Debit Credit Date Account Tities and Explanation FULL SCREEN PRINTER VERSION BACK s Prepare the journal entries required by Xavier Limited to record the issue of the note on April 1, and the settlement of the note on July 1, assuming that the note is dishonoured, but eventual collection is expected. (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 o for the amounts.) Date Account Titles and Explanation Debit Credit dy v SHOW LIST OF ACCOUNTS Prepare the journal entries required by Xavier Limited to record the issue of the note on April 1, and the settlement of the note on July 1, assuming that the note is dishonoured and eventual collection is not expected. (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 o for the amounts.) Date Account Titles and Explanation Debit Credit Privacy Policy I 2000-2020 John Wiley & Sons, Inc. All Rights Reserved. A Division of John Wiley & Sons, Inc. Version 4.24 20.1 SHOW LIST OF ACCOUNTS Prepare the journal entries required by Xavier Limited to record the issue of the note on April 1, and the settlement of the note on July 1, assuming that the note is dishonoured and eventual collection is not expected. (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 o for the amounts.) Date Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS