Question
BE8.9 (LO 3), AN Presented below are data on three promissory notes. Determine the missing amounts. Date of Note Terms Maturity Date Principal Annual Interest
BE8.9 (LO 3), AN Presented below are data on three promissory notes. Determine the missing amounts. Date of Note Terms Maturity Date Principal Annual Interest Rate Total Interest a. April 1 60 days ? $600,000 9% ? b. July 2 30 days ? 90,000 ? $600 c. March 7 6 months ? 120,000 10% ? BE8.10 (LO 3), AP On January 10, 2022, Masterson Co. sold merchandise on account to Tompkins for $8,000, terms n/30. On February 9, Tompkins gave Masterson Co. a 7% promissory note in settlement of this account. Prepare the journal entry to record the sale and the settlement of the accounts receivable. (Omit cost of goods sold entries.)\\n
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