DE 16 Recording notes receivable On 1 April, Choi Corporation accepted cash of $15000 and a six month, 6 per cent, $85000 interest-bearing note from Palaza, Inc., as settlement of an account receivable. Choi has a fiscal year end of 30 June, and Palaza paid the principal and the interest at maturity. REQUIRED Identify the note's maker and payee and prepare all appropriate journal entries from the acceptance of the note to the maturity date for the payee. opied, scanned or duplicated, in whole or in part. WSN82300 CHAPTER 6 Receivables 109