On March 31, 2016, Alpha Company’s note receivable from Bravo Company was dishonored due to the extreme decline in economic conditions. The note was a one-year, $10,000 note, issued on January 1, 2016, bearing 10%. Use this information to prepare for the Alpha Company the General Journal entries (without explanation) for March 31, 2016. If no entry is required then write “No Entry Required.”
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