Question: Doe Creek Interior Decorators issued a 120-day, 7% note for $150,000, dated February 18, 2014, to La Fleur Furniture Company on account. a. Determine the

Doe Creek Interior Decorators issued a 120-day, 7% note for $150,000, dated February 18, 2014, to La Fleur Furniture Company on account.

a. Determine the due date of the note.

b. Determine the maturity value of the note.

c. Journalize the entries to record the following:

(1) Receipt of the note by La Fleur Furniture and

(2) Receipt of payment of the note at maturity.


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