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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 Note Date Principal Amount Interest Rate Term Month/Day Year Note (1) Apr. 1 26.000 6% 1 year 9 months Note (2) Jun. 30 22.000 7% Note (3) Jun. 19 16.000 180 days - X 0 Requirements Data Table Principal Amount Note Date Interest Rate Term 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 Note (1) Apr. 1 26.000 6% 1 year Note (2) Jun 30 22.000 7% 9 months Note (3) 16.000 180 days Print Done Print Done
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