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Note Receivable Quick Tire and Lube received a 120-day, 9% note for $96,000, dated April 9 from a customer on account. Assume 360 days
Note Receivable Quick Tire and Lube received a 120-day, 9% note for $96,000, dated April 9 from a customer on account. Assume 360 days in a year. a. Determine the due date of the note. 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. Aug. 7 88
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College Accounting A Contemporary Approach
Authors: David Haddock, John Price, Michael Farina
3rd edition
77639731, 978-0077639730
