Steinberg

C_(0)

. loaned Field Co.

$10,000

, accepting a 4 month,

4.5%

promissory note in exchange. On the due date, Field

C0

. indicated that it could not pay at the present time. Steinberg would make the following entry at the time the note is dishonoured:\ Accounts Receivable.Field Co. 10,000\ Interest Expense 150\ Notes Receivable.Fleld Co. 10,150\ Accounts Receivable-Field Co. 10,150\ Notes Receivable-Field Co. 10,000\ Interest Revenue 150\ Notes Receivable-Field Co. 10,000\ Accounts Receivable-Field

Co

. 10,000\ Accounts Receivable-Field

C

o\ Notes Receivable-Field co. 10,000

Steinberg Co. loaned Field Co. $10,000, accepting a 4 -month, 4.5% promissory note in exchange. On the due date, Field C0. indicated that it could not pay at the present time. Steinberg would make the following entry at the time the note is dishonoured: Accounts Receivable.Field Co. 10,000 Interest Expense 150 Notes Receivable-Field Co. 10,150 Accounts Receivable. Field Co. 10,150 Notes Receivable-Field Co. 10,000 Interest Revenue 150 Notes Receivable-field Co. 10,000 Accounts Receivable-Field Co 10,000 Accounts Receivable-Field Co Notes Receivable-Field co. 10,000 Steinberg Co. loaned Field Co. $10,000, accepting a 4 -month, 4.5% promissory note in exchange. On the due date, Field C0. indicated that it could not pay at the present time. Steinberg would make the following entry at the time the note is dishonoured: Accounts Receivable.Field Co. 10,000 Interest Expense 150 Notes Receivable-Field Co. 10,150 Accounts Receivable. Field Co. 10,150 Notes Receivable-Field Co. 10,000 Interest Revenue 150 Notes Receivable-field Co. 10,000 Accounts Receivable-Field Co 10,000 Accounts Receivable-Field Co Notes Receivable-Field co. 10,000