Journalize the following transactions of Theres Productions:
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May 3. |
Received a $150,000, 90 day, 8% note dated May 3 from Xpedx Company on ac |
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count. |
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Aug. 1. |
The note is dishonored by Xpedx Company. |
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31. |
Received the amount due on the dishonored note plus interest for 30 days at |
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10% on the total amount charged to Xpedx Company on August 1. |