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Determine the interest on the following notes: (Use 360 days for calculation) a) $5,400 at 6% for 90 days. $ (b) $1,200 at 10% for

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Determine the interest on the following notes: (Use 360 days for calculation) a) $5,400 at 6% for 90 days. $ (b) $1,200 at 10% for 5 months. $ (c) $6,600 at 7% for 60 days, $ (d) $2,000 at 7% for 6 months. $ Wilson Distributors has the following transactions related to notes receivable during the last two months of the year Dec 1 16 Loaned $18,000 cash to E. Kinder on a 1-year, 5% note. Sold goods to J. Jones, receiving a $4,800, 60-day, 7% note. Accrued interest revenue on all notes receivable: 31 Journalize the transactions for Wilson Distributors. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Use 360 days for calculation. Record journal entries in the order presented in the problem) Date Account Titles and Explanation Debit Credit

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