Note Receivable

Prefix Supply Company received a 120-day, 8% note for $450,000, dated April 9 from a customer on account. Assume 360 days in a year.

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a. Determine the due date of the note.

April 21August 7July 31June 30May 31

b. Determine the maturity value of the note. $fill in the blank 3f6519ff5fbafc9_2

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c. Journalize the entry to record the receipt of the payment of the note at maturity. If an amount box does not require an entry, leave it blank.

Aug.	CashInterest ReceivableInterest RevenueNotes ReceivableNotes PayableUnearned Interest	- Select -	- Select -
	Accounts ReceivableCashInterest ReceivableNotes ReceivableNotes PayableUnearned Interest	- Select -	- Select -
	CashInterest ReceivableInterest RevenueInterest PayableNotes PayableUnearned Interest	- Select -	- Select -