Presley Supply Co$.$ has the following transaction related to notes receivable during the last $2$ months of $2020.($c$)$

Assume Ransey dishonors its note at its maturity in $2021$; Presley expects to eventually collect the note. Record the dishonors of

the Ransey note. $($Credit account titles are automatically indented when the amount is entered. Do not indent manually.$)$

Date Account Titles and Explanation

Debit

Credit

Nov. $1$

Nov. $1$ Loaned $$30,000$ cash to Logan Ransey on a $1-$year, $10\%$ note.

Dec. $11$ Sold goods to be Joe Noland, Inc., receiving a $$9,000,90-$day, $8\%$ note.

$16$ Received a $$4,000,6-$month, $9\%$ note in exchange for Jane Brock's outstanding accounts receivable.

$31$ Accrued interest revenue on all notes receivable.

$($a$)$

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Journalize the above transactions for Presley Supply Co$.($Credit account titles are automatically indented when the amount is entered.

Do not indent manually. Round interest to the nearest dollar.$)$

$($b$)$

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Record the collection of the Ransey note at its maturity in $2021.($Credit account titles are automatically indented when the amount is

entered. Do not indent manually.$)$

Attempts: $1$ of $1$ used

$($c$)$

Assume Ransey dishonors its note at its maturity in $2021$; Presley expects to eventually collect the note. Record the dishonors of

the Ransey note. $($Credit account titles are automatically indented when the amount is entered. Do not indent manually.$)$