July $1$ Blossom Catering accepted a $5\%,3-$month, $$9,360$ note dated July $1$ from VIP Productions for the balance due on account.

July $31$ Blossom Catering accrued interest on the July $1$ note from VIP Productions.

Oct. $1$ Collected the VIP Productions note in full. Interest was correctly accrued on July $31,$ August $31,$ and September $30.$

Oct. $1$ Assume instead, that the note is dishonored and that no interest has been accrued. Blossom Catering expects VIP Productions to eventually pay the amount owed.

Prepare journal entries to record the above events: $($Credit account titles are automatically indented when the amount is entered. Do not indent manually.$)$

Date Account Titles and Explanation

Debit

Credit

July $1$ Notes Receivable

Accounts Receivable

July $31$ Interest Receivable