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Katy Realty loaned money and received the following notes during 2018 EEB KClick the icon to view the notes received) Read the requirements Requirement 1.
Katy Realty loaned money and received the following notes during 2018 EEB KClick the icon to view the notes received) Read the requirements Requirement 1. Determine the maturity date and maturity value of each note (For each applicable note, compute interest using a 365-day year. Round to the nearest dollar) Due date NoteDatePrincipal Amount Interest Rate Termm 16,000 20,000 14,000 Month/Day Year (1) Oct 1 (2) Jun. 30 (3) Sep 19 S 8% 7% 13% 1 year 9 months 90 days Maturity value Requirement 2. Journalize the entries to establish each Note Receivable and to record collection of principal and interest at maturity. Include a single adjusting entry on December 31, 2018, the fiscal year-end, to record accrued interest revenue on any applicable note Explanations are not required Round to the nearest dollar. (Record debits first, then credits Exclude explanations from journal entries) Begin with the journal entry to establish note 1 Choose from any list or enter any number in the input fields and then continue to the next question. 2 Read the requirements Begin with the journal entry to establish note 1 Credit Date 2018 Oct 1 Accounts and Explanation Debit Journalize the entry to establish note 2 Date 2018 Jun. 30 Accounts and Explanation Debit ICredit Journalize the entry to establish note 3 Choose from any list or enter any number in the input fields and then continue to the next que
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