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Concord Co. loaned Splish Brothers Co. $10700, accepting a 4-month, 6.0% promissory note in exchange. On the due date. Splish Brothers Co. indicated that it

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Concord Co. loaned Splish Brothers Co. $10700, accepting a 4-month, 6.0% promissory note in exchange. On the due date. Splish Brothers Co. indicated that it could not pay at the present time. Concord would make the following entry at the time the note is dishonoured assuming Concord expected payment from Splish Brothers: Accounts Receivable-Splish Brothers Co. 10700 Notes Receivable-Splish Brothers Co. 10700 Accounts Receivable-Splish Brothers Co. 10700 Interest Expense 214 Notes Receivable-Splish Brothers Co. 10914 Notes Receivable-Splish Brothers Co. 10700 Accounts Receivable-Splish Brothers Co. 10700 Accounts Receivable-Splish Brothers Co. 10700 Interest Expense 214 Notes Receivable-Splish Brothers Co. 10914 Accounts Receivable-Splish Brothers Co. 10914 Notes Receivable-Splish Brothers Co. 10700 214 Interest Revenue

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