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Record the following transactions in general journal form for Karen Heller Company. July 1 Received a $20,000, 8%, 3-month note, dated July 1, from Nancy
Record the following transactions in general journal form for Karen Heller Company. July 1 Received a $20,000, 8%, 3-month note, dated July 1, from Nancy Freeman in payment of her open account. Oct. 1 Received notification from Nancy Freeman that she was unable to honor her note at this time. It is expected that Freeman will pay at a later date. Nov. 15 Received full payment from Nancy Freeman for her note receivable previously dishonored.
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