Question
Print PR.09.04B Details of Notes Receivable and Related Entries Gen-X Ads Co. produces advertising videos. During the current fiscal year, Gen-X Ads Co. received the
Print PR.09.04B Details of Notes Receivable and Related Entries Gen-X Ads Co. produces advertising videos. During the current fiscal year, Gen-X Ads Co. received the follc Date Face Amount {:[" Interest "],[" Rate "]:} Term 1. Jan. 14 $33,000 4% 30 days 2. Mar. 9 60,000 7 45 days 3. July 12 48,000 5 90 days 4. Aug. 23 16,000 6 75 days 5. Nov. 15 36,000 8 60 days 6. Dec. 10 24,000 6 60 days Required: Assume 360 days in a year. Determine for each note (a) the due date and (b) the amount of interest due at maturity, identifying (b) Interest Due at Maturity
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