Gen-X Ads Co. produces advertising videos. During the current fiscal year, Gen-X Ads Co. received the following notes:

	Date	Face Amount		Interest Rate		Term
1.	Apr. 10	$90,000		4%		60	days
2.	June 24	16,800		6		30	days
3.	July 1	45,000		6		120	days
4.	Oct. 31	45,000		5		60	days
5.	Nov. 15	90,000		6		60	days
6.	Dec. 27	144,000		4		30	days

Required:

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Assume 360 days in a year.

1. Determine for each note (a) the due date and (b) the amount of interest due at maturity, identifying each note by number.

Note	(a) Due Date	(b) Interest Due at Maturity
(1)	Apr. 14Apr. 30June 9June 10	$fill in the blank 75cee8fbefa4fd1_2
(2)	June 24June 30July 24July 25	fill in the blank 75cee8fbefa4fd1_4
(3)	July 1July 31Oct. 28Oct. 29	fill in the blank 75cee8fbefa4fd1_6
(4)	Oct. 31Dec. 21Dec. 30Dec. 31	fill in the blank 75cee8fbefa4fd1_8
(5)	Nov. 16Nov. 30Jan. 14June 15	fill in the blank 75cee8fbefa4fd1_10
(6)	July 21Jan. 26Jan. 27Jan. 31	fill in the blank 75cee8fbefa4fd1_12

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2. Journalize the entry to record the dishonor of Note (3) on its due date. If an amount box does not require an entry, leave it blank.

Jul. 1Jul. 31Oct. 28Oct. 29	Accounts Payable Accounts ReceivableBad Debt ExpenseInterest ReceivableNotes Receivable	- Select -	- Select -
	Accounts ReceivableCashInterest ReceivableNotes PayableNotes Receivable	- Select -	- Select -
	Accounts ReceivableBad Debt ExpenseInterest ReceivableInterest RevenueSales	- Select -	- Select -

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3. Journalize the adjusting entry to record the accrued interest on Notes (5) and (6) on December 31. If an amount box does not require an entry, leave it blank.

Dec. 31	Cash Interest Payable Interest ReceivableInterest RevenueUnearned Interest	- Select -	- Select -
	Cash Interest Payable Interest ReceivableInterest RevenueUnearned Interest	- Select -	- Select -

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4. Journalize the entries to record the receipt of the amounts due on Notes (5) and (6) in January. If an amount box does not require an entry, leave it blank.

Nov. 16Nov. 30Jan. 14June 15	Accounts ReceivableCashInterest ReceivableInterest RevenueNotes Receivable	- Select -	- Select -
	Accounts PayableAccounts ReceivableInterest ExpenseNotes ReceivableSales	- Select -	- Select -
	Accounts ReceivableAllowance for Doubtful AccountsInterest PayableInterest ReceivableNotes Payable	- Select -	- Select -
	Accounts ReceivableInterest PayableInterest Revenue Notes PayableSales	- Select -	- Select -
July 21Jan. 26Jan. 27Jan. 31	Accounts ReceivableCashInterest ReceivableInterest RevenueNotes Receivable	- Select -	- Select -
	Accounts ReceivableInterest ExpenseInterest PayableNotes ReceivablePrepaid Interest	- Select -	- Select -
	Accounts ReceivableInterest ExpenseInterest PayableInterest ReceivableNotes Payable	- Select -	- Select -
	Accounts ReceivableInterest ExpenseInterest PayableInterest RevenueNotes Payable	- Select -	- Select -