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DUE IN 45 MIN Valley Designs issued a 90 -day, 10% note for $72,000, dated April 17, to Bork Furniture Company on account. Assume 360
DUE IN 45 MIN
Valley Designs issued a 90 -day, 10% note for $72,000, dated April 17, 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. 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. c2. Journalize the entry to record the receipt of payment of the note at maturity. If an amount box does not require an entry, leave it blank. Date Rocesin Dewil Credie. Depli tirenstare Periodic inventory by Three Methods The units of an item available for sale during the year were as follows: There are 15 units of the item in the physical inventory at December 31 . The periodic inventory system is used. Round average unit cost to the nearest cent and final answers to the nearest whole dollar, if required. a. Determine the inventory cost by the first-in, first-out method. $ b. Determine the inventory cost by the last-in, first-out method. c. Determine the inventory cost by the weighted average cost method. Round average unit cost to the two decimal places, and round your final answer to the nearest dollar. Multiple-step income statement On March 31,20Y9, the balances of the accounts appearing in the ledger of Royal Furnishings Company; a furniture store, are as follows: a. Prepare a multiple-step income statement for the fiscal year ended March 31,20Y. ". war is a major advantage of the multiple-step income statement over the single-step income statement Step by Step Solution
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