eBook Show Me How Calculator Details of Notes Receivable and Related Entries Gen-X Ads Co. produces advertising videos. During the current fiscal year, Gen-X Ads Co. received the following notes: Date Interest Rate Term 1. Apr. 10 4% 60 days Face Amount $78,000 14,400 45,000 2. June 24 30 days July 1 4. Oct. 31 120 days 60 days 60 days 30 days 5. 45,000 90,000 126,000 Nov. 15 6. Dec. 27 Required: Assume 360 days in a year. 1. Determine for each note (a) the due date and (b) the amount of interest due at maturity, identifying each note by number (b) Interest Due at Maturity Note (1) 520 Due Date June 9 July 24 Oct. 29 72 (2) (3) 900 375 Dec. 30 900 Jan 14 420 Jan. 27 at man hack Works rema 2. Journalize the entry to record the dishonor of Note (3) on its due date. If an amount box does not require an entry, leave it blank or enter"0" Oct. 29 Accounts Receivable Notes Receivable Interest Revenue 3. Journalize the adjusting entry to record the accrued interest on Notes (5) and (6) on December 31. Dec 31 Interest Receivable Interest Revenue 4. Journalize the entries to record the receipt of the amounts due on Notes (5) and (6) in January. If an amount box does not require an entry, leave it blank or enter"0 Jan. 14 Cash Accounts Receivable Interest Payable Accounts Receivable Jan. 26 Cash Accounts Receivable Interest Receivable Accounts Receivable Previous