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Dec 11: Received a $6,000, 90-day, 12% note on account from Hey There Music. Dec 31: Made an adjusting entry to accrue interest on Hey
Dec 11: Received a $6,000, 90-day, 12% note on account from Hey There Music. Dec 31: Made an adjusting entry to accrue interest on Hey There Music note. (Use a 360-day year for your calculation. Enter amounts to the nearest dollar.) Mar 10: Collected the maturity value of Hey There Music note. (Enter amounts to the nearest dollar.) Jun 1: Loaned $12,000 cash to Oppie's Publishing, receiving a six-month, 11% note. Oct 31: Received a $5,000, 90-day, 10% note from Tusk Music on its past-due account receivable. Dec 1: Collected the maturity value of the Oppie's Publishing note. Dec 31: Make an adjusting entry to accrue interest on the Tusk Music note. (Use a 360-day year for your calculation. Enter amounts to the nearest dollar.)
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