Jordan Company uses the allowance method for uncollectible accounts. Jordan Company

accepted a $$5,000,12\%,90-$day note dated May $16,$ from Beckam Company in exchange for

its past$-$due account receivable. Make the necessary general journal entries for Jordan

Company on May $16$ and the August $14$ maturity date, assuming.that the:

a$.$ Note is honored

b$.$ Note honered