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Entries for notes receivable Instructions Chart of Accounts Starting Questions Journal Instructions Starting Questions Spring Designs & Decorators issued a 180-day, 5% note for $82,600
Entries for notes receivable Instructions Chart of Accounts Starting Questions Journal Instructions Starting Questions Spring Designs & Decorators issued a 180-day, 5% note for $82,600 dated April 13 to Jaffe Furniture Company on account A. Determine the due date of the note. Required A. Determine the due date of the note B. Determine the maturity value of the note. Assume a 360- B. Determine the maturity value of the note. Assume a 360-day year when calculating interest. day year when calculating interest. C. Journalize the entries to record the following: (1) receipt of the note by Jaffe Furniture and (2) receipt of payment of the note at maturity. Refer to the Chart of Accounts for exact wording of account titles
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