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Determine due date and interest on notes Determine the due date and the amount of interest due at maturity on the following notes: *Assume a
Determine due date and interest on notes Determine the due date and the amount of interest due at maturity on the following notes: *Assume a non-leap year in which February has 28 days. Assume 360 days in a year when computing the interest. Entries for notes recelvable Valley Designs issued a 90 -day, 6% note for $54,000, dated April 22 , to Bork Furniture Company on account. Assume 360 days in a year when computing the interest. a. Determine the due date of the note. b. Determine the maturity value of the note. Feedback Theck My Work The due date is the date the note is to be paid. c1. Journalize the entry to record the receipt of the note by Bork Furniture. If an amount box does not require an entry, leave it blank. Feedback V Check My Work The account receivable must be removed from the books and the newly issued note receivable recorded
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