Accounting notes receivables

QUESTION ONE: (Suggested time : 15 mins) (15 points) Prepare journal entries to record the following events, rounding to the nearest dollar if necessary: April 1 Hoover Company received a 7%, 6-month $50,000 note dated April 1 from a customer whose account balance was in default. Account Titles Debit Credit Oct. 1 The note is honoured, and no interest had been accrued. Account Titles Debit Credit Oct. 1 Assume instead that the note is dishonoured by the customer and there is hope of future collection. Account Titles Debit Credit Lokom de * , sciences Kingdom University to Spu 12 June 30180102