Note receivable OBJ. 6 Prefix Supply Company received a 120-day, 8% note for $450,000, dated April 9

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Note receivable OBJ. 6 Prefix Supply Company received a 120-day, 8% note for $450,000, dated April 9 from a customer on account.

a. Determine the due date of the note.

b. Determine the maturity value of the note.

c. Journalize the entry to record the receipt of the payment of the note at maturity.

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Financial And Managerial Accounting

ISBN: 9781305267831,9781305267848

13th Edition

Authors: Carl S. Warren , James M. Reeve , Jonathan Duchac

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