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Valley Spa purchased $8,100 in plumbing components from Tubman Co Valley Spa signed a 60-day, 8% promissory note for $8,100. If the note is dishonored,
Valley Spa purchased $8,100 in plumbing components from Tubman Co Valley Spa signed a 60-day, 8% promissory note for $8,100. If the note is dishonored, but Tubman intends to continue collection efforts, what is the journal entry to record the dishonored note? (Use 360 days a year.) Multiple Choice Debit Accounts Receivable $8,208; debit Bad Debt Expense $108, credit Notes Receivable $8,100. Debit Bad Debt Expense $8,208: credit Accounts Receivable $8.208. Debit Bed Debt Expense $8,100credit Notes Receivable $8.100
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