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Cathy Realty loaned money and received the following notes during 2024 . (Click the icon to view the notes received.) Read the requirements. Requirement 1.
Cathy Realty loaned money and received the following notes during 2024 . (Click the icon to view the notes received.) Read the requirements. Requirement 1. Determine the maturity date and maturity value of each note. Requirement 2. Journalize the entries to establish each Note Receivable and Explanations are not required. Round to the nearest dollar. (Record debits first Begin with the journal entry to establish note 1. Journalize the entry to establish note 2 . Journalize the entry to establish note 3 . Journalize the single adjusting entry to record accrued interest revenue on any applicable note(s) on December 31, 2024, the fiscal year-end. Requirements 1. Determine the maturity date and maturity value of each note. 2. Journalize the entries to establish each Note Receivable and to record collection of principal and interest at maturity. Include a single adjusting entry on December 31, 2024, the fiscal year-end, to record accrued interest revenue on any applicable note. Explanations are not required. Round to the nearest dollar. Now journalize the collection of principal and interest at maturity on the three notes. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.) Journalize the collection of principal and interest at maturity for note (1)
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