Entries for Notes Receivable Valley Designs issued a 90-day, 6% note for $54,000, 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.

July 14

b. Determine the maturity value of the note. $--------

c1. Journalize the entry to record the receipt of the note by Bork Furniture.

Notes Receivable__________

Accounts Receivable-Valley Design_______

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______