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ACC-131 Principles of Accounting I Chapter 8 WEB Practice Name: Renee Warmer issued a 60-day, 5% note for $60,000, dated October 3rd to Hawk Co.
ACC-131 Principles of Accounting I Chapter 8 WEB Practice Name: Renee Warmer issued a 60-day, 5% note for $60,000, dated October 3rd to Hawk Co. on account. a. Determine the due date of the note. b. Determine the interest. c. Determine the maturity value of the note. d. Journalize the entry to record the receipt of the note by Hawk Co. e. Journalize the entry to record the receipt of payment of the note at maturity by Hawk Co. (Remember: there are 31 days in October, 30 days in November, and 31 days in December. Use 360 days for the entire year.) D&E) \begin{tabular}{|l|l|l|c|} \hline Date & Accounts and Explanation & Debit & Credit \\ \hline \end{tabular} Pag e 12
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