Gen-X Ads Co. produces advertising videos. During the current fiscal year, Gen-X Ads Co. received the following notes:

	DATE	FACE AMOUNT	TERM	INTEREST RATE
1	JAN 14	$33,000	30 DAYS	4%
2	MARCH 9	$60,000	45 DAYS	7%
3	JULY 12	$48,000	90 DAYS	5%
4	AUGUST 23	$16,000	75 DAYS	6%
5	NOV 15	$36,000	60 DAYS	8%
6	DEC 10	$24,000	60 DAYS	6%

Instructions

1. Determine for each note (a) the due date and (b) the amount of interest due at maturity, identifying each note by number.

2. Journalize the entry to record the dishonor of Note (3) on its due date.

3. Journalize the adjusting entry to record the accrued interest on Notes (5) and (6) on December 31.

4. Journalize the entries to record the receipt of the amounts due on Notes (5) and (6) in January and February