Question
Prefix Supply Company received a 120-day, 7% note for $36,000, dated April 12 from a customer on account. Assume 360-days in a year. Question Content
Prefix Supply Company received a 120-day, 7% note for $36,000, dated April 12 from a customer on account. Assume 360-days in a year. Question Content Area
a. Determine the due date of the note.
b. Determine the maturity value of the note. Question Content Area
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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Authors: Auditor Gift
1st Edition
1656655861, 978-1656655868
