Autumn Designs 8 Decorators issued a 120 -day. 4% note for $76,800, dated April 13 to Zebra Furniture Company on account. Required: a. Determine the due date of the note. b. Determine the maturity value of the note. Assume a 360-day year when calculating interest. Do not round your intermediate calculations and round your final answer to the nearest dollar. c. Joumalize the entries to record the following: (1) receipt of the note by Zobra Furniture and (2) recelpt of payment of the note at maturity. Refer to the chart of accounts for the exact wording of the account bites. CNOW journals do not use lines for journal explanations. Every line on a joumal page is used for debvit or credit entries. CNOW joumals wil automatically indent a crecht entry when a credit amount is entered. CHART OF ACCOUNTS Zebra Furniture Company General Ledger ASSETS 110 Cash 111 Petty Cash 121 Accounts Receivable-Autumn Designs \& Decorators 129 Allowance for Doubtful Accounts 132 Notes Receivable 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance 181 Land 191 Store Equipment 192 Accumulated Depreciation-Store Equipment 193 Office Equipment 194 Accumulated Depreciation-Office Equipment REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Merchandise Sold 520 Sales Salaries Expense 521 Advertising Expense 522 Depreciation Expense-Store Equipment 523 Delivery Expense 524 Repairs Expense 529 Selling Expenses 530 Office Salaries Expense 531 Rent Expense 532 Depreciation Expense-Office Equipment 533 Insurance Expense LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 215 Notes Payable EQUITY 310 Owner, Capital 311 Owner, Drawing 312 Income Summary 534 Office Supplies Expense 535 Store Supplies Expense 536 Credit Card Expense 537 Cash Short and Over 538 Bad Debt Expense 539 Miscellaneous Expense 710 Interest Expense a. Determine the due dafe of the note. b. Determine the mafunty yalue of the note. Assume a 360-day year when calculafing interest. Do not round your intermediate calculations and round your final answer to the nearest dollar. (1) Joumalize the entry to record the receipt of the note by Zebra Fumiture. Refer to the chart of accounts for the exact wording of the account tides. CNOW journals do ot use lines for joumal explanations. Every line on a joumat page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit mount is entered. c. (2) Joumalize the ontry to record the receipt of payment of the note at maturity. Refer to the chart of accounts for the exact wording of the account bides. CNOW jour do not use lines for joumal explanations. Every line on a joumal page is used for debit or credit ontries. CNOW joumals wil automatically indent a credit entry when a ce amount is entered
