On June X Alaska State Company recelved a $day, percent note from Samuel Adams, a customer whose account was past due. Alaska discounted the note on June X at Georgla State Bank and Trust. Samuel Adams dishonored the note recelvable discounted by Alaska State. Assume the bank deducted the maturity value of the dishonored note plus a $ service charge from Alaska State's bank account on the due date of the note.
Required:
Prepare the entrles in general Journal form that Alaska State Company would make.
Note: Use days a year.
Journal entry worksheet
Record entry for dishonor of Samuel Adams discounted note.
Note: Enter debits before credits.
tableDateGeneral Journal,Debit,CreditJuly xNotes receivableDiscounted,Accounts receivableSamuel Adams,,Cash,,
