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On August 2, 2011, JLK Co. receives a $5,500, 90-day, 12% note from customer Tom Menke as payment QS 9-5 on his $9,000 account. (1)

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On August 2, 2011, JLK Co. receives a \$5,500, 90-day, 12\% note from customer Tom Menke as payment QS 9-5 on his $9,000 account. (1) Compute the maturity date for this note. (2) Prepare JLK's journal entry for Note receivable C2 August 2. Refer to the information in QS 9-5 and prepare the journal entry assuming the note is honored by the cus- QS 9-6 tomer on October 31, 2011. Note receivable P3

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