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Flush Mate Co. wholesales bathroom fixtures. During the current fiscal year, Flush Mate Co. received the following notes: Date Face Amount Interest Rate Term

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Flush Mate Co. wholesales bathroom fixtures. During the current fiscal year, Flush Mate Co. received the following notes: Date Face Amount Interest Rate Term 1. Mar. 6 $80,000 5% 45 days 2. Apr. 23 24,000 9 60 days 3. July 20 42,000 6 120 days 4. Sept. 6 54,000 7 90 days 56 5. Nov. 29 27,000 6 60 days 6. Dec. 30 72,000 5 30 days Instructions 1. Determine for each note (a) the due date and (b) the amount of interest due at maturity, identifying each note by number. Answer Check Figure: Note 2: Due date, June 22; Interest due at maturity, $360 2. Journalize the entry to record the dishonor of Note (3) on its due date. 3. Journalize the adjusting entry to record the accrued interest on Notes (5) and (6) on December 31.

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