Question 29 (10 points) Sticker Company, whose Financial year ends on June 30th, accepted a $ 20,000,6%, 90-day note dated May 16th, from Johnston corp. as an extension of its past-due account. Prepare the necessary journal entries to be recorded at appropriate time assuming that (a) Note is honoured at maturity (b) Note is dishonoured and Sticker company has written of the balance (sticker company uses allowance method of acconting for bad-debts) (Please round the numbers to closest whole number e.g. if you get 1145.65 write 1146 or if you get 1145.30 write 1145) Please note the marks allocation 1. Calculating the correct due date. 1 Mark 2. Calculating correct interest amount - 2 Marks 3. Appropriate Narrations for Journal Entries - 2 Marks 4. Correct Journal Entries. 1 mark Each (max 5 marks)