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. BONUS I (9 points): The following information pertains to Family Video Company: 1. Cash balance per bank, July 31, $7,263. 2. July bank service charge not recorded by the depositor $28. 3. Cash balance per books, July 31, $7,284. 4. Deposits in transit, July 31, $1,500. s. Bank collected $900 note for Family in July, plus interest $36, less fee of $20. The collection has not been recorded by Family, and no interest has been accrued 6. Outstanding checks, July 31, $591. Instructions: (a) Prepare a bank reconciliation at July 31. (b) Journalize the adjusting entries at July 31 on the Instructions: (a) Prepare a bank reconciliation at July 31. (b) Journalize the adjusting entries at July 31 on the books of Family Video Company