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Entries for Receipt and Dishonor of Notes Receivable Journalize the following transactions in the accounts of Jamba Co., which operates a riverboat casino. Assume 360

Entries for Receipt and Dishonor of Notes Receivable

Journalize the following transactions in the accounts of Jamba Co., which operates a riverboat casino. Assume 360 days in a year. For a compound transaction, if an amount box does not require an entry, leave it blank. Round final answers to the nearest cent when necessary.

Mar. 1. Received a $64,800, 60-day, 10% note dated March 1 from Tomekia Co. on account.
18. Received a $45,000, 60-day, 8% note dated March 18 from Mystic Co. on account.
Apr. 30. The note dated March 1 from Tomekia Co. is dishonored, and the customer's account is charged for the note, including interest.
May 17. The note dated March 18 from Mystic Co. is dishonored, and the customer's account is charged for the note, including interest.
July 29. Cash is received for the amount due on the dishonored note dated March 1 plus interest for 90 days at 12% on the total amount debited to Tomekia Co. on April 30.
Aug. 23. Wrote off against the allowance account the amount charged to Mystic Co. on May 17 for the dishonored note dated March 18.

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