BE8.9 (LO 3), AN Presented below are data on three promissory notes. Determine the missing amounts. Date of Note Terms Maturity Date Principal Annual Interest Rate Total Interest a. April 1 60 days ? $600,000 9% ? b. July 2 30 days ? 90,000 ? $600 c. March 7 6 months ? 120,000 10% ? BE8.10 (LO 3), AP On January 10, 2022, Masterson Co. sold merchandise on account to Tompkins for $8,000, terms n/30. On February 9, Tompkins gave Masterson Co. a 7% promissory note in settlement of this account. Prepare the journal entry to record the sale and the settlement of the accounts receivable. (Omit cost of goods sold entries.)\\n

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BE89 a To determine the missing amounts we need to calculate the maturity date and the total interes... View the full answer