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Problem 8-11A Notes receivable LO4 CHECK FIGURES: d. Interest income = $454.93 e. Cash = $90,499.32 Vauxall Holdings showed the following information regarding its notes
Problem 8-11A Notes receivable LO4 CHECK FIGURES: d. Interest income = $454.93 e. Cash = $90,499.32 Vauxall Holdings showed the following information regarding its notes receivable Note 1 2 3 4 Date of Note Nov. 1/22 Jan. 5/23 Nov. 20/23 Dec. 10/23 Round calculations to the nearest whole cent 37 Principal $240,000 100,000 90,000 120,000 Interest Rate 4.0% 5.0% 4.5% 5.5% Term 180 days 90 day's 45 day's 30 days Maturity Date Required For each note: a. Determine the maturity date. b. Calculate the days of accrued interest, if any, at December 31, 2023 (Vauxall Holdings' year-end). c. Calculate the amount of accrued interest, if any, at December 31, 2023. Days of Accrued Interest at Dec. 31, 2023 Accrued Interest at Dec. 31, 2023* For Note 3: d. Prepare the entry to record the accrued interest at December 31, 2023. e. Prepare the entry to record the collection on the maturity date. Assume that both interest and principal are collected at maturity.
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