On August 8, Bravo Motors sold merchandise inventory to UB and received a $60,000, 120-day, 15% note. Suppose UB dishonored the note but pays 30 days after and is charged additional 30 days' interest at 8%. In that case, you are to journalize the entries needed for Bravo Motors to record the receiving of the payment on the dishonored note. State your date in the journal. (6 pts)

On August 8, Bravo Motors sold merchandise inventory to UB and received a $60,000,120-day, 15% note. Suppose UB dishonored the note but pays 30 days after and is charged additional 30 days' interest at 8%. In that case, you are to journalize the entries needed for Bravo Motors to record the receiving of the payment on the dishonored note. State your date in the journal. (6 pts)