Entries for Notes Receivable

Autumn Designs & Decorators issued a 120-day, 5% note for $93,000, dated April 13 to Zebra Furniture Company on account. Assume a 360-day year when calculating interest.

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a. Determine the due date of the note.

November 8July 15August 11November 18

b. Determine the maturity value of the note. $fill in the blank cafc11074ff4006_2

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c1. Journalize the entry to record the receipt of the note by Zebra Furniture. If an amount box does not require an entry, leave it blank.

blank	Accounts Receivable-Autumn Designs and DecoratorsAllowance for Doubtful AccountsBad Debt ExpenseInterest ReceivableNotes Receivable
	Accounts Receivable-Autumn Designs and DecoratorsAllowance for Doubtful AccountsBad Debt ExpenseInterest ReceivableNotes Receivable

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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.

blank	Accounts ReceivableBad Debt ExpenseCashInterest RevenueNotes Receivable
	Accounts ReceivableBad Debt ExpenseCashNotes PayableNotes Receivable
	Allowance for Doubtful AccountsBad Debt ExpenseCashInterest PayableInterest Revenue