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Please complete in excel P9-31A Accounting for notes receivable and accruing interest money and received the following notes during 2014 Note Date Principal Amount Interest
Please complete in excel
P9-31A Accounting for notes receivable and accruing interest money and received the following notes during 2014 Note Date Principal Amount Interest RateTerm (1) Aug1 24,000 17% 1 year (2) 6 months 18,000 6% Nov. 30 30 days (3) Dec. 19 12,000 12% Requirements I. Determine the maturity date and maturity value of each note. 2 Journalize the entry to record the inception of each of the three notes and also journalize a single adjusting entry at December 31, 2014, the fiscal year-end, to record accrued interest ns are not required 3. Journalize the collection of principal and interest at maturity of all three notes. Explanations are not requiredStep by Step Solution
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