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Instructions Chart of Accounts First Questions Journal Instructions Autumn Designs & Decorators issued a 120-day, 9% note for $88,400, dated April 13 to Zebra Furniture

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Instructions Chart of Accounts First Questions Journal Instructions Autumn Designs & Decorators issued a 120-day, 9% note for $88,400, dated April 13 to Zebra Furniture Company on account. Required: a. Determine the due date of the note. b. Determine the maturity value of the note. Assume a 360-day year when calculating interest. Do not round your intermediate calculations and round your final answer to the nearest dollar. c. Journalize the entries to record the following: (1) receipt of the note by Zebra Furniture and (2) receipt of payment of the note at maturity. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use Ines for journal explanations. Every line on a journal page is used for debitor credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. a. Determine the due date of the note b. Determine the maturity value of the noto. Assume a 360-day your when calculating interest. Do not round your intermediate calculations and round your final answer to the nearest dollar Journal JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY c. (2) Journalize the entry to record the receipt of payment of the note at maturity. Refer to the chart of accounts for the exact wording of the accounts. CNOWjoumals do not us lines for journal explanations. Every line on a journal page is used for debit or credit entries CNOW Jumals will automatically indert a credit enly when a credit amount is entered, IMGED ACCOUNTING EQUATION JOURNAL CREDIT ASSETS LIABILITIES FQUITY POST REF DEBIT DATE DESCRIPTION 1 2 5 Chart of Accounts ASSETS REVENUE 110 Cash 410 Sales 610 Interest Revenue 2 111 Petty Cash 121 Accounts Receivable-Autumn Designs & Decorators 129 Allowance for Doubtful Accounts 132 Notes Receivable 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance 181 Land 191 Store Equipment 192 Accumulated Depreciation-Store Equipment 193 Office Equipment 194 Accumulated Depreciation Office Equipment c. lin EXPENSES 510 Cost of Merchandise Sold 520 Sales Salaries Expense 521 Advertising Expense 522 Depreciation Expense-Store Equipment 523 Delivery Expense 524 Repairs Expense 529 Selling Expenses 530 Office Salaries Expense 531 Rent Expense 532 Depreciation Expense-Office Equipment 533 insurance Expense 534 Office Supplies Expense 535 Store Supplies Expense 536 Credit Card Expense LIABILITIES 210 Accounts Payable 3 211 Salaries Payable Chart of Accounts Fid Jo 181 Land 191 Store Equipment 192 Accumulated Depreciation Store Equipment 193 Office Equipment 194 Accumulated Depreciation Office Equipment 1 2 LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 215 Notes Payable 524 Repairs Expense 529 Selling Expenses 530 Office Salaries Expense 531 Rent Expense 532 Depreciation Expense-Office Equipment 533 Insurance Expense 534 Office Supplies Expense 535 Store Supplies Expense 536 Credit Card Expense 537 Cash Short and Over 538 Bad Debt Expense 539 Miscellaneous Expense 710 Interest Expense lin EQUITY 310 Owner, Capital 311 Owner, Drawing 1 2 312 Income Summary 3

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