List Of Accounts Brief Exercise 8-12 Accounts Payable Accounts Receivable Accumulated Depreciation - Buildings Accumulated Depreciation - Equipment Advances to Employees Allowance for Doubtful Accounts Allowance for Doubtful Notes Bad Debts Expense Bank Charges Expense Bank Loan Payable Buildings Cash Common Shares Cost of Goods Sold Current Portion of Bank Loan Payable Depreciation Expense Equipment Held for Trading Investments Income Tax Expense Income Tax Payable Income Tax Receivable Insurance Expense Interest Expense Interest Payable Interest Receivable Interest Revenue Inventory Land No Entry Notes Payable Notes Receivable Prepaid Insurance Prepaid Rent Retained Earnings Salaries Expense Salaries Payable Sales Sales Discounts Sales Returns and Allowances Sales Tax Recoverable Supplies Unearned Revenue Brief Exercise 8-12 Xavier Limited accepts a three-month, 6%, $40,000 note receivable in settlement of an account receivable on April 1, 2018. Interest is due at maturity. Your answer is partially correct. Try again. Prepare the journal entries required by Xavier Limited to record the issue of the note on April 1, and the settlement of the note on July 1, assuming that the note is dishonoured and eventual collection is not expected. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Apr. 1 Notes Receivable 40,000 Accounts Receivable 40,0001 July 1 40,000 Notes Receivable 40,000 SHOW LIST OF ACCOUNTS