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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.

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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 $84,000 4% 60 days 2. June 24 16,800 6 30 days 3. July 1 72,000 6 120 days Oct. 31 72,000 9 60 days 5. Nov. 15 90,000 6 60 days 6. Dec. 27 108,000 4 30 days Required: 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, (b) Due Date Interest Due at Maturity (1) (a) Note (2) (3) (5) (6) 2. Journalize the entry to record the dishonor of Note (3) on its doe date, ut an amount box does not require an entry leave it blank en entorno 19 Jourmalize the adjusting entry to record the accrued Interest on Notes (5) and (6) on December 31 Dec 31 . 4. Donates the entries to record the receipt of the amounts due on Notes (5) and (6) in January. It an amount bon does not reale entry. Serve tanker Jan 10 San Hill

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