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A company received the following notes during 2019. NOTE DATE PRINCIPAL INTEREST TERM AMOUNT RATE (a) August 30 $9,000 4% 3months (b) November 19
A company received the following notes during 2019. NOTE DATE PRINCIPAL INTEREST TERM AMOUNT RATE (a) August 30 $9,000 4% 3months (b) November 19 12,000 3% 60 days (c) Dec 1 15,000 5% 1year (d) Dec 1 20,000 6% 2years 1. Determine the due date of each note. 2. Journalize a single adjusting entry at December 31, 2019 of each note to record accrued interest revenue on the notes.
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