Matrix Co. wholesales bathroom fixtures. During the current fiscal year, Matrix Co. received the following notes.

Instructions
1. Determine for each note (a) the due date and (b) the amount of interest due at maturity, identifying each note by number.
2. Journalize the entry to record the dishonor of Note (3) on its due date.
3. Journalize the adjusting entry to record the accrued interest on Notes (5) and (6) on December 31.
4. Journalize the entries to record the receipt of the amounts due on Notes (5) and (6) inJanuary.

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Face Amount Interest Rate Date Term 1. March 7 $24000 2. June 18 3. Aug. 30 4. Oct 31 5. Nov. 19 6. Dec. 23 16,800 10,200 27,000 12,000 16,000 60 days 30 days 120 days 60 days 60 days 30 days 6% 990 6% 9% 6% 9%