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Details of notes receivable and related entries Gen - X Ads produces advertising videos. During the current year ending December 3 1 , Gen -
Details of notes receivable and related entries GenX Ads produces advertising videos. During the current year ending December GenX Ads received the following notes: Note Date Face Amount Term Interest Rate January $ days March days July days August days November days December days Required: Question Content Area Assume days in a year. 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 fill in the blank of fill in the blank of $ fill in the blank of fill in the blank of fill in the blank of fill in the blank of fill in the blank of fill in the blank of fill in the blank of fill in the blank of fill in the blank of fill in the blank of Question Content Area Journalize the entry to record the dishonor of Note on its due date. If an amount box does not require an entry, leave it blank. blankAccountDebitCredit blank Question Content Area Journalize the adjusting entry to record the accrued interest on Notes and on December If an amount box does not require an entry, leave it blank. DateAccountDebitCredit Dec. Question Content Area Journalize the entries to record the receipt of the amounts due on Notes and in January and February. If an amount box does not require an entry, leave it blank. EntriesAccountDebitCredit Note Note
Details of notes receivable and related entries
GenX Ads produces advertising videos. During the current year ending December GenX Ads received the following notes:
Note Date Face Amount Term Interest Rate
January $ days
March days
July days
August days
November days
December days
Required:
Question Content Area
Assume days in a year.
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
fill in the blank of
fill in the blank of $
fill in the blank of
fill in the blank of
fill in the blank of
fill in the blank of
fill in the blank of
fill in the blank of
fill in the blank of
fill in the blank of
fill in the blank of
fill in the blank of
Question Content Area
Journalize the entry to record the dishonor of Note on its due date. If an amount box does not require an entry, leave it blank.
blankAccountDebitCredit
blank
Question Content Area
Journalize the adjusting entry to record the accrued interest on Notes and on December If an amount box does not require an entry, leave it blank.
DateAccountDebitCredit
Dec.
Question Content Area
Journalize the entries to record the receipt of the amounts due on Notes and in January and February. If an amount box does not require an entry, leave it blank.
EntriesAccountDebitCredit
Note
Note
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