Riley Company received a notice with its bank statement that the bank had collected a note receivable for $$5,000$ plus $$150$ of

interest. The bank had credited these amounts to Riley $\text{'}$s account less a collection fee of $$10.$ Riley Company had already accrued the

interest for this note on its books.

$($b$)$

Prepare the journal entry that Riley Company will make to record this information on its books $($Use Miscellaneous Expense for

Collection Fee$).($Credit account titles are automatically indented when amount is entered. Do not indent manually.$)$

Account Titles and Explanation

Debit

Credit