A B C D E 1 ACCOUNTING FOR NOTES RECEIVABLE 3 4 5 6 7 8 9 10 11 12 On November 1, 2017, LENDER sold merchandise to BORROWER accepting.. BORROWER'S $6,000, 10%, 3 month note in exchange. Basic Note Information: Face Value Total Interest Stated Interest Rate Maturity Value Term Maturity Date Date of Note CASE A: Both Lender and Borrower prepare financial statements annually on June 30. On February 1, 2018, Lender receives the maturity value due from the Borrower. CHAPTER 8-PART 1: LENDER 13 14 GENERAL JOURNAL Account Titles DR 15 Date CR 16 17 18 19 20 23 24 25 26 27 Basic Note Information: Face Value $6,000 Stated Interest Rate 10% Term 3 months Date of Note Nov 1, 2017 Total Interest $150 Maturity Valu_ $6,150 Maturity Date Feb 1, 2018 28 29 30