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Vauxall Holdings showed the following information regarding its notes receivable: Days of Accrued Not Date of Principal Intorost Term Maturity Accrued Intorest at Dec Note
Vauxall Holdings showed the following information regarding its notes receivable: Days of Accrued Not Date of Principal Intorost Term Maturity Accrued Intorest at Dec Note Rato DateInterest at Dec. 31, 31, 2017 2017 1 Nov. 1,16 $190,000 4.0% 180days 2 Jan. 5/17 3 Nov. 20/17 4 Dec. 10117 79,000 5.0% 90days 72,000 4.5% 45 days 95,000 5.5% 30days Required: For each of Vauxall Holdings note receivable given below: (Use 365 days in a year. Do not round intermediate calculations. Round the "Amount of Accrued Interest at Dec. 31, 2017" answers to 2 decimal places.) a. Deternine the maturity date. b. Calculate the days of accrued interest, if any, at December 31, 2017 (Vauxall Holdings' year-end). c. Calculate the amount of accrued interest, if any, at December 31, 2017 Amount Days of Accrued Term Maturity Dat Note Date of Note PrincipalRate $ 190,000| 4.0% 79,000| 5.0% 72,0001 4.5% 95,000 5.5% Accrued Interest Interest at Dec. 31,2017at Dec. 31, 2017 1 Nov. 1116 2 Jan. 5/17 3 Nov. 20/17 180 days 90 days 45 days 30 days days days days days 4 Dec. 1017 For Note 3: d. Prepare the entry to record the accrued interest at December 31, 2017. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Use 365 days in a year. Do not round intermediate calculations. Round your answers to 2 decimal places.) View transaction list Record the entry to accrue interest on Note 3. Crodit Record the entry to accrue interest on Note 3. Note: Enter debits before credits Date General Journal Debit Credit Dec 31, 2017 Record entry Clear entry View general journal . Prepare the entry to record the collection on the maturity date. Assume that both interest and principal are collected at maturity. (If no entry is required for a transa ays in a year. Do not round intermediate calculations. Round your answers to 2 decimal places.) View transaction list Journal entry worksheet Record the collection of Note 3 and interest. Note: Enter debits before credits. Transaction General Journal Debit Credit a
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