Question: can you answer each question? PART VI NOTES RECEIVABLE (8 points) Instructions: Prepare journal entries to record the following events: July 1: Howell Company received

can you answer each question?

PART VI NOTES RECEIVABLE (8 points) Instructions: Prepare journal entries to record the following events: July 1: Howell Company received an 8%, 4-month $30,000 note dated July 1 from a customer for the balance of his open account. Nov. 1: The note is honored and no interest has been previously accrued. Nov. 1: Assume instead that the note is dishonored by its maker and there is hope of future collection. Nov. 1: Assume instead that the note is dishonored and there is no hope of future collection

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