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Gen-X Ads Co. produces advertising videos. During the current fiscal year, Gen-X Ads Co. received the following notes: (b) Interest Due Note (a) Due Date

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Gen-X Ads Co. produces advertising videos. During the current fiscal year, Gen-X Ads Co. received the following notes: (b) Interest Due Note (a) Due Date at Maturity (1) Feb. 13 V (2) Apr, 23 (3) Oct. 10, (4) NoV. 6 V (5) Jan. 14 . (6) Feb. 8 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. Feedsack TCheck My Work Count the number of days in each month until the total number of days is reached for the term of the note and this will be the due Typically, the maker of a dishonored note falls to pay the note on the due date. A company that holds a dishonored note transfers t accounts recelvable account. Interest revenue is not dependent on receiving the interest at this point. Cash received will include the maturity value of the note. 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 Dec. 31 4. Joumalize the entries to record the receipt of the amounts due on Notes (5) and (6) in January and February. If an amount box does not require an entry, leave it blank. 13n, 14v cash v Notes Recchabie o Interest Hecelvable v interest Revensia v Enbi = gash Wotes Recceivabile v Interest Reccivable Interestatevensie

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