On May 17, Bruno Olive Co. accepted a $6,500, 8%, 90-day note from a customer. On June 11, the note was discounted at 10%. At maturity date, the note was dishonored and the bank charged a $25 protest fee. The amount that Bruno Olive Co. would debit to Notes Receivable Dishonored is

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The face value of the note is $6,500. The interest for 90 days at 8% is $130. The total amount due at maturity is $6,630. Since the note was dishonored, Bruno Olive Co. would debit Notes Receivable Dishonored for the maturity value of $6,630 plus the $25 protest fee, totaling $6,655.