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Calculate the interest due at maturing for each of the following Notes: Note A Note B Note C Principal 10,000 10,000 10,000 Term 60 Days
| Calculate the interest due at maturing for each of the following Notes: | |||
| Note A | Note B | Note C | |
| Principal | 10,000 | 10,000 | 10,000 |
| Term | 60 Days | 90 Days | 120 days |
| Interest Rate | 8% | 10% | 12% |
| Note A Interest due | |||
| Note B Interest Due | |||
| Note C Interest Due | |||
| Prepare the journal entry to record each of the notes at issuance. | |||
| Note A | |||
| DR: | |||
| CR: | |||
| Note B | |||
| DR: | |||
| CR: | |||
| Note C | |||
| DR: | |||
| CR: | |||
| Prepare the journal entry to record the retirement of each note. | |||
| Note A | |||
| DR: | |||
| DR: | |||
| CR: | |||
| Note B | |||
| DR: | |||
| DR: | |||
| CR: | |||
| Note C | |||
| DR: | |||
| DR: | |||
| CR: | |||
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Managerial Accounting
Authors: Ray Garrison, Theresa Libby, Alan Webb
9th canadian edition
1259269477, 978-1259269479, 978-1259024900
