Gen-X Ads Co. produces advertising videos. During the current year ending December 31, Gen-X Ads received the following notes:

	Date	Face Amount		Term		Interest Rate
1.	Jan. 14	$33,000		30	days		4	%
2.	Mar. 9	60,000		45	days		7
3.	July 12	48,000		90	days		5
4.	Aug. 23	16,000		75	days		6
5.	Nov. 15	36,000		60	days		8
6.	Dec. 10	24,000		60	days		6

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.

Note	(a) Due Date	(b) Interest Due at Maturity
(1)		$
(2)
(3)
(4)
(5)
(6)

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.

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

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

Note 5
Note 6