Assume that Pope Enterprises held a $10,000, 10 percent, six-month note signed by Mary Drew. On December, 1, 2015, the maturity date, Drew dishonored the note. At this point, Drew owes a total of $10, 500, which is comprised of the principal of $10,000 plus interest in the amount of $500 (or $10,000 times 10% times 6/12). Prepare the December 1 entry for Pope by selecting the account names and dollar amounts from the drop-down menus.

Answer rating: 100% (QA)

Based on the information provided the December 1 entry for Pope Enterprises would in... View the full answer