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Chart of Accounts Starting Questions Journal Instructions Lundquist Company received a 60-day, 7% note for $79,000, dated July 23, from a customer on account. Required:
Chart of Accounts Starting Questions Journal Instructions Lundquist Company received a 60-day, 7% note for $79,000, dated July 23, from a customer on account. Required: a. Dotermine the due date of the note. b. Determine the maturity value of the note. Assume 360 days in a year .Journalize the entry to record the receipt of the payment of the note at maturity. Refer to the Chart of Accounts for exact wording of account tinles Starting Questions a Determine the due date of the note. . Determine the matury value of the note. Assume 360 days in a year. (Note. Round computations to the nearest whole dollar.) PAGE 1 TION DATE DESCRIPTION POST. REF CREDIT ASSETS LIABILITIES EQUITY
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