Seaver Company's December 31 year-end trial balance shows an $8,000 balance in Notes Receivable. This balance is

Question:

Seaver Company's December 31 year-end trial balance shows an $8,000 balance in Notes Receivable. This balance is from one note dated December 1, with a term of 45 days and 4.5% interest. Determine the date and prepare the December 31 and date entries, assuming the note are honoured. Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...