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Entries for Notes Receivable Spring Designs & Decorators issued a 120-day, 9% note for $84,000, dated April 13 to Jaffe Furniture Company on account. Assume
Entries for Notes Receivable Spring Designs & Decorators issued a 120-day, 9% note for $84,000, dated April 13 to Jaffe Furniture Company on account. Assume a 360-day year when calculating interest. a. Determine the due date of the note. August 11 b. Determine the maturity value of the note Feedback c1. Journalize the entry to record the receipt of the note by Jaffe Furniture. Notes Recelivable Accounts Receivable-Spring Designs Decorators Feedback 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. Cash Notes Receivable Interest Revenue Feedback
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