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Vauxall Holdings showed the following information regarding its notes receivable: Note Date of Note Principal Interest Rate Term Maturity Date Days of Accrued Interest at
Vauxall Holdings showed the following information regarding its notes receivable:
Note Date of Note Principal Interest Rate Term Maturity Date Days of Accrued Interest at Dec. Accrued Interest at Dec.
Nov. $ days
Jan. days
Nov. days
Dec. 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. answers to decimal places.
Determine the maturity date.
Calculate the days of accrued interest, if any, at December Vauxall Holdings' yearend
Calculate the amount of accrued interest, if any, at December
For Note :
d Prepare the entry to record the accrued interest at December Do not round intermediate calculations. Round your answers to decimal places.
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 decimal places.
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