Sheridan Co. loaned Marigold Co. $10800, accepting a 4-month, 6.0% promissory note in exchange. On the due date, Marigold Co. indicated that it could not pay at the present time. Sheridan would make the following entry at the time the note is dishonoured:

Sheridan Co. loaned Marigold Co. $10800, accepting a 4-month, 6.0% promissory note in exchange. On the due date, Marigold Co. indicated that it could not pay at the present time. Sheridan would make the following entry at the time the note is dishonoured: O Accounts Receivable-Marigold Co. Interest Expense Notes Receivable-Marigold Co. O Accounts Receivable-Marigold Co. Notes Receivable-Marigold Co. Interest Revenue O Notes Receivable-Marigold Co. Accounts Receivable-Marigold Co. O Accounts Receivable-Marigold Co. Notes Receivable-Marigold Co. 10800 216 11016 11016 10800 216 10800 10800 10800 10800