Problem \#5 - Notes Receivable Purple, Inc. had a 110 -day, 7.5% note for $1,050,000, dated May 2 from a customer on account. 1) Determine the maturity date for the note. 2) Determine the maturity value of the note. 2) Determine the maturity value of the note. 3) Prepare journal entries for the receipt of the note on April 3, and the receipt of the cash on the maturity date of the note. 3) Prepare journal entries for the receipt of the note on April 3, and the receipt of the cash on the maturity date of the note. Problem \#6 - Notes Receivable ABC Company had a 180-day, 8.25% note for $200,000, dated Feb 4 from a customer on account. 1) Determine the maturity date for the note. 2) Determine the maturity value of the note. 3) Prepare journal entries for the receipt of the note on April 3, and the receipt of the cash on the maturitu date of the