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maturity date Help Save & Exit Submit Check my work Year 1 Apr. 20 Purchased $36,000 of merchandise on credit from Locust, terms n/30. May
maturity date
Help Save & Exit Submit Check my work Year 1 Apr. 20 Purchased $36,000 of merchandise on credit from Locust, terms n/30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 8%, $35,888 note payable along with paying $1,000 in cash. July 8 Borrowed $69,000 cash from NBR Bank by signing a 120-day, 11%, $69,000 note payable. Paid the amount due on the note to Locust at the maturity date. ? Paid the amount due on the note to NBR Bank at the maturity date. Nov. 28 Borrowed $33,000 cash from Fargo Bank by signing a 60-day, 6%, $33,000 note payable. Dec. 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2 Paid the amount due on the note to Fargo Bank at the maturity date. Problem 9-1A Part 1 sces Required: 1. Determine the maturity date for each of the three notes described. Locust L NBR Bank Fargo Bank Maturity dateStep by Step Solution
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