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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: Term of

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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: Term of Note a. 120 days 30 days C. Date of Note Face Amount Interest Rate January 5 * $90,000 6% b. February 15* 21,000 4 May 19 68,000 8 d. August 20 34,400 5 October 19 50,000 7 * Assume a leap year in which February has 29 days. Assume 360 days in a year when computing the interest. 45 days 90 days 90 days e. Note Due Date Interest (a) (b) (c) (d) (e) The following selected transactions were completed by Intertocking Devices Co., a supplier of zippers for clothing: 2017 Dec. 7. Received from Unitarian Clothing & Bags Co., on account, a $75,000, 60-day, 3% note dated December 7. 31. Recorded an adjusting entry for accrued interest on the note of December 7. 31. Recorded the closing entry for interest revenue. 2018 Feb. 5. Received payment of note and interest from Unitarian Clothing & Bags Co. Journalize the entries to record the transactions. If an amount box does not require an entry, leave it blank. Assume 360 days in a year. 2017, Dec. 7

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