Solution-Determine the due date of the note

Determine the due date of the note

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Reference no: EM133132467

Question - Entries for Notes Receivable - Autumn Designs & Decorators issued a 120-day, 6% note for $30,000, dated April 13 to Zebra Furniture Company on account. Assume a 360-day year when calculating interest.

a. Determine the due date of the note.

b. Determine the maturity value of the note.

c-1. Journalize the entry to record the receipt of the note by Zebra Furniture. If an amount box does not require an entry, leave it blank.

c-2. Journalize the entry to record the receipt of payment of the note at maturity. If an amount box does not require an entry, leave it blank.

Reference no: EM133132467

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Determine the due date of the note

Reference no: EM133132467

Reference no: EM133132467

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