Record the Following Transactions for Lucea Corporation:Jul 1 Received an $8,000

Essay

Record the following transactions for Lucea Corporation:Jul 1 Received an $8,000, 3%, 3-month note, dated July 1, from Frank Baker in payment of his open account. Interest is due at maturity.Oct 1 Received notification from Frank Baker that he is unable to honour his note at this time. It is expected that Baker will pay at a later date.Nov 15 Received full payment from Frank Baker for note receivable previously dishonoured.