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Record the following transactions in general journal form for Alkaline Company: Jul 1 Received a $6,000 3-month, 5% note, dated July 1, from Janet
Record the following transactions in general journal form for Alkaline Company: Jul 1 Received a $6,000 3-month, 5% note, dated July 1, from Janet Schmitz in payment of her open account. Sep 30 Received notification from Janet Schmitz that she was unable to honour her note at this time. It is expected that Schmitz will pay at a later date. Nov 15 Received full payment from Janet Schmitz for note receivable previously dishonoured. No additional interest charges were charged.
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