Prepare the following journal entries

Mona wrote a promissory note for $7,500, four months, 15% dated May 1, to settle an open account. Prepare the entry that Monawould makes for the receipt of the promissory note.

On September 1, prepare the journal entry if Mona receives payment for the note, on the payment date. (Honor of a note receivable)

If Mona does not receive payment on the promissory note by September 1, on the payment date. (Non-payment of a note receivable)