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6% Granger Realty loaned money and received the following notes during 2018, E (Click the icon to view the notes received.) Read the requirements Requirement

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6% Granger Realty loaned money and received the following notes during 2018, E (Click the icon to view the notes received.) Read the requirements Requirement 1. Determine the maturity date and maturity value of each note. (For each applicable note, compute interest using a 365-day year. Round to Due date Note Date Principal Amount Interest Rate Term Month/Day Year Maturity value Note (1) Apr 1 26,000 1 year Note (2) Sep 30 20,000 1196 6 months Note (3) Jun 19 26,000 1001 180.daus Requirement 2. Journalize the entries to establish eaq Requirements e adju applicable note. Explanations are not required. Round ps. Bogin with the journal entry to establish note 1 Date Accounts and Explanation 1. Determine the maturity date and maturity value of each note. 2. Journalize the entries to establish each Note Receivable and to record 2018 collection of principal and interest at maturity. Include a single adjusting entry on December 31, 2018, the fiscal year-end, to record accrued interest ravenue Apr1 on any applicable note. Explanations are not required. Round to the nearest dollar Print Done Joumalize the entry to establish note 2. Date Accounts and Explanation 2018 Sap. 30 Principal Amount Note Term Interest Rate 6% Date Apr. 1 Sep 30 $ Note (1) Note (2) Note (3) 26,000 20,000 11% 1 year 6 months 180 days Jun 19 26,000 10% Choose from any list or enter any number in the inpu Print Done

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