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EXERCISE 6 Journalize the following transactions in the accounts of Shapiro Theater Productions: April 1. Received a $75,000, 60-day, 8% note dated April 1 from

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EXERCISE 6 Journalize the following transactions in the accounts of Shapiro Theater Productions: April 1. Received a $75,000, 60-day, 8% note dated April 1 from Creswell Company May 1, Discounted the note at First City Bank at 9%. on account. 31. The note is dishonored by Creswell Company; paid the bank the amount due on the note, plus a protest fee of $500. June 30. Received the amount due on the dishonored note plus interest for 30 days at 12% on the total amount charged to Creswell Company on May 31. GENERAL JOURNAL PAGE 1 TE PR. DEBIT DESCRIPTION CREDIT

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