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Note receivable Prefix Supply Company received a 120-day, 9% note for $60,000, dated April 12 from a customer on account. Assume 360-days in a
Note receivable Prefix Supply Company received a 120-day, 9% note for $60,000, dated April 12 from a customer on account. Assume 360-days in a year a. Determine the due date of the note. April 21 b. Determine the maturity value of the note. 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.
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