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Instructions Prefix Supply Company received a 120-day, 9% note for $21,500 dated April 12 from a customer on account. Required: a. Determine the due date
Instructions Prefix Supply Company received a 120-day, 9% note for $21,500 dated April 12 from a customer on account. Required: a. Determine the due date of the note. b. Determine the maturity value of the note. Assume a 360-day year. c. Journalize the entry to record the receipt of the payment of the note at maturity. First Questions a. Determine the due date of the note. b. Determine the maturity value of the note. Assume a 360-day year. (Note: Round computations to the nearest whole dollar.) General Journal c. Journalize the entry to record the receipt of the payment of the note at maturity. General Journal Instructions 1 2 3 DATE DESCRIPTION JOURNAL PAGE 1 ACCOUNTING EQUATION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY
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