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15. On January 5, 2011, Breaker Ltd receives a $10,000, 90 day, 11% note from a customer (K. Durant) as a payment on his account.

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15. On January 5, 2011, Breaker Ltd receives a $10,000, 90 day, 11% note from a customer (K. Durant) as a payment on his account. a. Determine the maturity date for this note (interest begins to accrue Jan. 6) b. Prepare the journal entries for the receipt of the note on Jan. 5 and when the customer honors the note. Accounts Debits Credits 1/5

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