During the current fiscal year, ABC Company received the following notes:

Note Date Face Amount Term Interest Rate

Note 1 March 3 $50,000 30 Days 4%

Note 2 April 18 $30,000 45 Days 6%

Note 3 June 15 $45,000 90 Days 7%

Note 4 Sept 8 $60,000 120 Days 5%

Note 5 Dec 1 $25,000 30 Days 3%

1) Determine for each note (a) the due date and (b) the amount of interest due at maturity, identifying each note by number.

2) Journalize the entry to record the dishonor of Note 3 on its due date

3) Journalize the adjusting entry to record the accrued interest on Note 4 on December 31.