Interest Date Face Amount Rate Term 1. Apr. 10 $63,000 4% 60 days 2. June 24 13,200 6 30 days 3. July 1 54,000 6 120 days 4. Oct. 31 54,000 9 60 days 5. Nov. 15 90,000 6 60 days 6. Dec. 27 144,000 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. Note (a) Due Date (b) Interest Due at Maturity (1) June 9 420 (2) July 24 66 (3) Oct. 29 1,080 v (4) Dec. 30 810 (5) Jan. 14 900 (6) Jan. 26 480 Feedback Check My Work 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. Oct. 29 Accounts Receivable Notes Receivable Feedback Check My Work Interest Revenue 55,080 54,000 1,080 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 Interest Receivable. Interest Revenue 88 Feedback Check My Work 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. Jan. 14 Cash Notes Receivable Interest Receivable Interest Revenue