Details of notes receivable and related entries

Gen$-$X Ads produces advertising videos. During the current year ending December $31,$ Gen$-$X Ads received the following notes:

Note Date Face Amount Term Interest Rate

$1.$ January $14$ $$33,00030$ days $4\%$

$2.$ March $960,00045$ days $7$

$3.$ July $1248,00090$ days $5$

$4.$ August $2316,00075$ days $6$

$5.$ November $1536,00060$ days $8$

$6.$ December $1024,00060$ days $6$

Required:

Question Content Area

Assume $360$ days in a year.

$1.$ Determine for each note $($a$)$ the due date and $($b$)$ the amount of interest due at maturity, identifying each note by number.

Note $($a$)$ Due Date $($b$)$ Interest Due

at Maturity

$(1)$ fill in the blank $1$ of $12$

fill in the blank $2$ of $12$$

$(2)$ fill in the blank $3$ of $12$

fill in the blank $4$ of $12$

$(3)$ fill in the blank $5$ of $12$

fill in the blank $6$ of $12$

$(4)$ fill in the blank $7$ of $12$

fill in the blank $8$ of $12$

$(5)$ fill in the blank $9$ of $12$

fill in the blank $10$ of $12$

$(6)$ fill in the blank $11$ of $12$

fill in the blank $12$ of $12$

Question Content Area

$2.$ Journalize the entry to record the dishonor of Note $(3)$ on its due date. If an amount box does not require an entry, leave it blank.

blankAccountDebitCredit

blank

Question Content Area

$3.$ Journalize the adjusting entry to record the accrued interest on Notes $(5)$ and $(6)$ on December $31.$ If an amount box does not require an entry, leave it blank.

DateAccountDebitCredit

Dec. $31$

Question Content Area

$4.$ Journalize the entries to record the receipt of the amounts due on Notes $(5)$ and $(6)$ in January and February. If an amount box does not require an entry, leave it blank.

EntriesAccountDebitCredit

Note $5$

Note $6$