Taylor Company lent $80,000 to L. King on a 90-day, 5% (annual) note.

1. Journalize for Taylor Company the lending of the money on August 1. Journalize the collection of the principal and interest at maturity. Specify the date.

2. Journalize for Taylor Company the lending of the money on December 1 (Assume that Taylor Companys accounting period ends by December 31). Journalize the collection of the principal and interest at maturity. Specify the date.

3) Journalize the case, where maker dishonor the note