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2. SNK Corp. produces advertising videos. During the current year ending December 31, SNK received the following notes: Note Number Date Face Amount Term Interest
2. SNK Corp. produces advertising videos. During the current year ending December 31, SNK received the following notes: Note Number Date Face Amount Term Interest Rate 1 Jan. 13 $32,000 30 Days 4.5% 2 Mar. 8 60,000 45 Days 8 3 July 12 47,000 90 Days 6 4 Aug. 22 15,000 75 Days 5 5 Nov. 14 35,000 30 Days 7 6 Dec. 9 23,000 60 Days 6 Round to the cent. a. Provide this answer by producing a table of data. Determine for each note: i. the due date and ii. the amount of interest due at maturity, identifying each note by number. b. Journalize the entry to record the dishonor of Note (3) on its due date. c. Journalize the adjusting entry to record the accrued interest on Note (6) on December 31. d. Journalize the entries to record the receipt of the amounts due on Notes (5) and (6) on their maturity dates
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