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Delaney Realty loaned money and received the following notes during 2018. (Click the icon to view the notes received.) Read the requirements. Requirement 1. Determine
Delaney 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 Month/Day Year Interest Rate Term Note (1) 5% Date Apr. 1 Jun 30 Jun. 19 Principal Amount $ 22,000 28,000 15,000 8% 1 year 9 months 180 days 6% 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, 2018, the fiscal year-end, to record accrued interest revenue on any applicable note. Explanations are not required. Round to the nearest dollar. - X i Data Table Term Note (1) 1 year Date Apr. 1 Jun 30 Jun. 19 Principal Amount Interest Rate $ 22,000 5% 28,000 8% 15,000 6% 9 months 180 days Print Print Done
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