receivable Starting Questions Journal mrs, M. WalkerPer.. Observation DEFINE Best Buy Offical Instructions Lundquist Company received a 60-day, 5% note for $57.000, dated July 23, from a customer on account Required: a. Determine the due date of the note b. Determine the maturity values of the note. Assume 360 days in a year c. Journalize the entry to record the receipt of the payment of the note at maturity. Refer to the Chart of Accounts for exact wording of account titles. 141 Merchandise Inventory 520 Sales Salaries Expense CUATION CHART OF ACCOUNTS Lundquist Company General Ledger ABIETS 110 Cash 111 Patty Cash 120 Accounts Receivable 129 Allowance for Doubtful Accounts 132 Notes Receivable 141 Merchandise Inventory 145 Office Supplies 146 Store Supples 151 Prapaid Insurance 181 Land 191 Store Equipment 192 Accumulated Depreciation-Store Equipment 193 Office Equipment 154 Accumulated Depreciation-Of Equipment LIABILITIES 210 Accounts Payable 211 Salaries Payabi 213 Sales Tax Payable 214 interest Payable 215 Notes Payable REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Merchandise Sold 520 Sales Salaries Expense 521 Advertising Expense 522 Depreciation Expense-Store Equipment 523 Delivery Expense 524 Rapairs Expense 529 Saling Expenses 530 Office Salaries Expense 531 Rant Expense 532 Depreciation Expense-Office Equipment 533 Insurance Expense 534 Office Supplies Expense 535 Store Supplies Expense 536 Card Expense 537 Cash Short and Over 538 Had Dest Expenar aneous Expense EQUITY 310 Owner Capta 311 Owner Drawing 312 income uctions dqu Starting Questions R 8 a. Determine the due date of the note. b C b. Determine the maturity value of the note. Assume 360 days in a year. (Note: Round computations to the nearest whole dollar) S Journal c. Journalize the entry to record the receipt of the payment of the note at maturity. Refer to the Chart of Accounts for exact wording of account JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST RE CVENT