r1-r2

Chapter 8- Notes Receivable A 60-day, 10% note receivable for $30,000 (face value), dated August 1, is received from a customer. R1: Calculate the following: a. Total Interest Revenue b. Maturity Value The total amount that the customer will pay in 60 days.) R2: Prepare the journal entry for the customer payment at the maturity date. Account Debit Credit Record the payment received from the customer