Question

Make entries in a notes payable register to document the following events. Show the computation of the interest and due dates. July 15 Gave a 30-day, 5 percent note, dated
July 15, for $ 4,000, to Davies Company to apply on account.
Aug. 10 Borrowed $ 10,200 from Duke State Bank, giving a 45-day, 6 percent note, dated August 10 (received full face value).
14 Paid Davies Company the amount owed on the note of July 15.
22 Bought merchandise from Mercer, Inc., with a $ 6,420, 90-day, 6.5 percent note, dated August 22.



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  • CreatedOctober 21, 2014
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