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Entries for Notes Receivable Jalley Designs issued a 90 -day, 8% note for $48,000, dated April 15, to Bork Furniture Company on account. Assume 360
Entries for Notes Receivable Jalley Designs issued a 90 -day, 8% note for $48,000, dated April 15, 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. Feedback Check My Work The due date is the date the note is to baid. Remember the interest rate is stated on an annual basis, while the term is expressed as days. Assume a 360 day year. The maturity value is the amount that must be paid at the due date of the
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