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Valley Co. received a $200,000, 90-day, 7% note, dated February 3, from Mr. Potts in payment of his account receivable. (Assume a 360-day year when
Valley Co. received a $200,000, 90-day, 7% note, dated February 3, from Mr. Potts in payment of his account receivable. (Assume a 360-day year when calculating interest.) Question Content Area a. Determine the due date of the note. b. Determine the interest. fill in the blank 1 of 2$ c. Determine the maturity value of the note. fill in the blank 2 of 2$ Question Content Area d. Journalize the entry for the receipt of the note from Potts on February 3. If an amount box does not require an entry, leave it blank. blankAccountDebitCredit blank - Select - - Select - - Select - - Select
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