Christie Realty loaned money and received the following notes during 2018 (Click the icon to view the notes received.) Read the requirements. Requirement 1. Determine the maturity date and maturity value of each note. (For each applicable note, compute interest using a 365-day year. Round to the nearest dollar.) Due date Note (1) Apr. 1 (2) Sep. 30 Date Principal Amount Interest Rate 8% 14% 13% Term 1 year 6 months Month/Day Year Maturity value 16,000 20,000 16,000 Sep. 19 90 days Requirement 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, 2018, the fiscal ye on any applicable note. Explanations are not required. Round to the nearest dollar. (Record debits first, then credits. Exclude explanations from journal entries.) Begin with the journal entry to establish note 1 Data Table Accounts and Explanation Date 2018 Apr. 1 Debit Credit Date Note (1) Apr. 1 (2) Sep. 30 Principal Amount 16,000 20,000 16,000 Interest Rate 8% 14% 13% Term 1 year 6 months Joumalize the entry to establish note 2 Sep. 19 90 days Date Accounts and Explanation Debit Credit Print Done Choose from any list or enter any number in the input fields and then continue to the next questi Christie Realty loaned money and received the following notes during 2018 EEB (Click the icon to view the notes received.) Read the requirements Joumalize the entry to establish note 2. Credit Date 2018 Sep. 30 Accounts and Explanation Debit Data Table Note Date Principal Amount Apr. 1 Sep. 30 Sep. 19 16,000 20,000 16,000 Interest Rate 8% 14% 13% Term 1 year 6 months Joumalize the entry to establish note 3 Credit Date 2018 Sep. 19 Accounts and Explanation Debit 90 days PrintDone loumalize the single adjusting entry to record accrued interest revenue on any applicable note(s) on December 31, 2018, the fiscal year-end. Date 2018 Dec. 31 Accounts and Explanation Debit Credit Data Table ow journalize the collection of principal and interest at maturity on the three notes. Explanations are not required. (Record debits Note (1) Apr. 1 (2) Sep. 30 Date Principal Amont Interest Rate Term 1 year 8 months Joumalize the collection of principal and interest at maturity for note(1) 16,000 20,000 16,000 8% 14% 13% Date Accounts and Explanation Debit Credit Sep. 19 90 days Print Done Joumalize the collection of principal and interest at maturity for note (2) Journalize the collection of principal and interest at maturity for note (2). Date Accounts and Explanation Debit Credit Data Table Note Date Principal Amount Interest Rate Term 1 year 6 months (1) Apr. 1 Sep. 30 Sep. 19 16,000 20,000 16,000 Journalize the collection of principal and interest at maturity for note (3) 14% Date Accounts and Explanation Debit Credit 13% 90 days Print Done
