Question:Record the following transactions for Pro Line Communications Inc. in the general journal.

May 30Accepted a 60-day, 12% note for $11,000 from Photo Master as payment on an account receivable.July 16Accepted a 60-day, 11% note for $6,000 from Impact Images as payment on an account receivable.29Received interest due on Photo Master note. The note is renewed for 45 days at 13% interest.Aug. 15Discounted the note from Impact Images at the bank at a 10% discount rate.28Received full payment of the Photo Master note.Sept. 14Received notice from the bank that the Impact Images note is dishonored. Pro Line Communications Inc. paid the bank for the dishonored note plus interest.Oct. 20The dishonored Impact Images note is paid, plus 10% interest on the maturity value.When required, enter amounts to the nearest cent. If an amount box does not require an entry, leave it blank. Assume 360 days in a year.

DATE DESCRIPTION DEBIT CREDIT

May 30

Jul. 16

Jul. 29

Aug. 15

Aug. 28

Sep. 14

Oct. 20