1. On November 30, 2018, Tucker Products performed computer programming services for Damascus Inc. in exchange for a five-month, $75,000, 10% note receivable. Damascus Inc. paidTucker the full amount of interest and principal on April 30, 2019. Tucker has a December 31 year-end.
2. Required:
3. Prepare the necessary entries for Tucker to record the transactions described above.
4. Prepare the journal entry required if the note is dishonoured on April 30, 2019.

9 Exercise 5-74 Accounting for Notes ReceivableHonoured and Dishonoured Objective 6 On November 30, 2018, Tucker Products performed computer programming services for Damascus Inc. in exchange for a fivemonth, $75,000, 10% note receivable. Damascus Inc. paid Tucker the full amount of interest and principal on April 30, 2019. Tucker has a December 31 year-end. Required: 1. Prepare the necessary entries for Tucker to record the transactions described above. 2. Prepare the journal entry required if the note is dishonoured on April 30, 2019