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

	Date	Face Amount		Interest Rate		Term
1.	Apr. 10	$69,000		4%		60	days
2.	June 24	13,200		6		30	days
3.	July 1	63,000		6		120	days
4.	Oct. 31	63,000		5		60	days
5.	Nov. 15	72,000		6		60	days
6.	Dec. 27	126,000		4		30	days

Assume 360 days in a year.

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

Note	(a) Due Date	(b) Interest Due at Maturity
(1)
(2)
(3)
(4)
(5)
(6)

2. Journalize the entry to record the dishonor of Note (3) on its due date. If an amount box does not require an entry, leave it blank.

Jul. 31	Bad Debt Expense
	Cash
	Interest Revenue

3. Journalize the adjusting entry to record the accrued interest on Notes (5) and (6) on December 31. If an amount box does not require an entry, leave it blank.

Dec. 31