Note receivable

Prefix Supply Company received a 120-day, 9% note for $36,000, dated April 12 from a customer on account. Assume 360-days in a year.

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a. Determine the due date of the note.

August 10April 21July 31June 30May 31August 10

b. Determine the maturity value of the note. fill in the blank 1 of 1$

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The due date is the date the note is to be paid.

Assume a 360 day year. The maturity value is the amount that must be paid at the due date of the note.

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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.

blank	Account	Debit	Credit
blank	CashInterest ReceivableInterest RevenueNotes ReceivableUnearned InterestCash	Cash	Cash
	Accounts ReceivableCashNotes ReceivableNotes PayableUnearned InterestNotes Receivable	Notes Receivable	Notes Receivable
	Accounts ReceivableCashInterest ReceivableInterest RevenueInterest PayableInterest Revenue	Interest Revenue	Interest Revenue

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