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Quick Tire and Lube received a 120-day, 9% note for $72,000, dated April 9 from a customer on account. Assume 360 days in a year.
Quick Tire and Lube received a 120-day, 9\% note for $72,000, dated April 9 from a customer on account. Assume 360 days in a year. a. Determine the due date of the note. b. Determine the maturity value of the note. $ c. Journalize the entry to record the receipt of the payment of the note at maturity. If an mount box does not require an entry, leave it blank. Aug. 7
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