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Compute the maturity date for the note

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Reference no: EM131604176

Problem - Note receivable

On August 2, Jun Co. receives a $6,800, 90-day, 12% note from customer Ryan Albany as payment on his $6,800 account.

1. Compute the maturity date for the above note.

  • October 29
  • October 30
  • October 31
  • November 1
  • November 2

2. Prepare Jun's journal entry for August 2.

Reference no: EM131604176

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