Chapter 8 On January 1, Purple Corp. accepted a one-year note for $50,000 at 6% from one of its customers, Teal Company. When the note matured on December 31, Teal was unable to pay, and the company recorded the dishonor. True On January 1st, the amount to debit to notes receivable is $53,000 On January 1st, the interest earned is [Select) $0. 9 Select) To compute the interest on the note at the end of June, the formula is principal times interest rate times the bad