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Vauxall Holdings showed the following information regarding its notes receivable: Interest Maturity Note Date of Note Principal Rate Term Date Days of Accrued Interest
Vauxall Holdings showed the following information regarding its notes receivable: Interest Maturity Note Date of Note Principal Rate Term Date Days of Accrued Interest at Dec. 31, 2023 Accrued Interest at Dec. 31, 2023* 1 Nov. 1/22 $170,000 4.0% 180 days 2 Jan. 5/23 71,000 5.0% 90 days. 3 Nov. 20/23 64,000) 4.5% 45 days 4 Dec. 10/23 85,000 5.5% 30 days "Round calculations to the nearest whole cent Required: For each of Vauxall Holdings note receivable given below. (Do not round intermediate calculations. Round the "Amount of Accrued Interest at Dec. 31, 2023" answers to 2 decimal places.) a. Determine the maturity date. b. Calculate the days of accrued interest, if any, at December 31, 2023 (Veuxall Holdings' year-end). c. Calculate the amount of accrued interest, if any, at December 31, 2023 Note Date of Note Principal Interest Rate Term Maturity Date Days of Accrued Interest at Dec. 31, 2023 Amount of Accrued Interest at Dec. 31, 2023 1 Nov. 1/22 $170,000 4.0% 180 days days 2 Jan. 5/23 $ 71,000 5.0% 90 days days 3 Nov. 20/23 $ 64,000 4.5% 45 days days 4 Dec. 10/23 $ 85,000 5.5% 30 days days d. Prepare the entry to record the accrued interest at December 31, 2023. (Do not round intermediate calculations. Round your answers to 2 decimal places.) View transaction list Journal entry worksheet < 1 Record the entry to accrue interest on Note 3. Note: Enter debits before credits, Date Dec 31, 2023 General Journal Debit Credit e. Prepare the entry to record the collection on the maturity date. Assume that both interest and principal are collected at maturity. (Do not round intermediate calculations. Round your answers to 2 decimal places.) View transaction list Journal entry worksheet < 1 Record the collection of Note 3 and interest.. Note. Enter debits before credits Transaction General Journal Debit Credit Racontanter Clearanto Main panasalloumal
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