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4 On March 12, Single Sheet Printing completed a large printing job, $25,500 for Ace Card Company. Ace required longer than normal terms of payment
4 On March 12, Single Sheet Printing completed a large printing job, \$25,500 for Ace Card Company. Ace required longer than normal terms of payment so Single Sheet agreed to accept a 120-day note receivable from Ace bearing interest at 6%. Detemine the due date of the note. Determine the amount of interest Ace will pay at the due date? Prepare the entries to record the transaction on March 12 and on the date of payment
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