Question: Problem 7 DISHONOR OF NOTES RECEIVABLE 3 journal entries Problem 7 RECORD THE FOLLOWING TRANSACTIONS FOR 2020: Date 1-Jul Received a $800, 3 month, 5%

Problem 7 DISHONOR OF NOTES RECEIVABLE 3 journal entries Problem 7 RECORD THE FOLLOWING TRANSACTIONS FOR 2020: Date 1-Jul Received a $800, 3 month, 5% note from a customer in settlement of an account receivable. Received notification from the customer that he was unable to honor the note at this time. It is expected that this customer will pay the full amount at a later date. 1-Oct 15-Nov Received full payment from the customer

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