Assume that part of accounts and other receivables on Thompson Toys' February 2,2010,balance sheet is comprised of $43,225,000 of notes receivable.Two notes make up the amount.The first note has a face value of $30,000,000 and bears interest at 7 percent for 90 days.The second note has a face value of $13,225,000 and bears interest at 9 percent for 120 days.Record the journal entry for the collection of the 7 percent note on May 3 and the dishonor of the 9 percent note on June 2.(Omit explanations; assume no interest had been accrued.)Round amounts to nearest dollar.
Definitions:
Genotype
The genetic makeup of an organism or a group of organisms with reference to a single trait, set of traits, or an entire complex of traits.
Common
Occurring frequently or widely accepted or shared by most people.
Dihybrid Cross
Cross between two individuals identically heterozygous for two genes; for example, AaBb × AaBb.
Phenotypes
The set of observable characteristics or traits of an organism.
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