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PROBLEM 6 (5%) The following transactions appear on the books of McCain's Plumbing Supply: Apr. Received a three-month, 15 percent note for $8,000 from S.

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PROBLEM 6 (5%) The following transactions appear on the books of McCain's Plumbing Supply: Apr. Received a three-month, 15 percent note for $8,000 from S. Palin, a customer, as an extension of her past-due account. July Received notice from the bank that S. Palin dishonored the note. REQUIRED: In the journal provided, prepare entries for the above transactions (assume a calendar-year accounting period) using good form. (Omit explanations.)

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