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Devil Manufacturing held three interest-bearing notes during 2021 and 2022. For each note, determine the following items: a. The notes maturity date b. The notes
Devil Manufacturing held three interest-bearing notes during 2021 and 2022. For each note, determine the following items:
a. The notes maturity date
b. The notes maturity value (total amount due)
c. Interest revenue to be recorded on the note in 2021
Note 1 issued September 25, 2021, $15,000, 10%, 60 days
Note 2 issued November 20, 2021, $25,000, 12%. 90 days
Note 3 issued December 1, 2021, 14,000, 9%, 75 days
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