On November 1, Cats Co. issued a 60-day note with a face amount of $70,000 to Nip
Question:
a. Determine the due date of the note.
b. Determine the proceeds of the note, assuming the note carries an interest rate of 4%.
c. Record the journal entries to issue the note and pay the note.
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Step by Step Answer:
a The note will be due December 31 29 days in Nove...View the full answer
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Related Book For 
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ISBN: 978-0176509743
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