Prepare General Journal Entries for the Following Transactions of This

Essay

Prepare general journal entries for the following transactions of this company for the current year:
$\begin{array}{|l|l|}\hline\text { Apr. 25 } & \begin{array}{l}\text { Sold } \$ 4,500 \text { of merchandise to CBC Corp, receiving a 10\%,60-day, \$4,500 note } \\\text { receivable. }\end{array} \\\hline \text { June 24 } & \text { The note of CBC Corp., received on April 25 was dishonored. }\\\hline\end{array}$