Question: Guzman Company received a 60-day, 5% note for $54,000 dated July 12 from a customer on account. a. Determine the due date of the note.

Guzman Company received a 60-day, 5% note for $54,000 dated July 12 from a customer on account.

a. Determine the due date of the note.

b. Determine the maturity value of the note.

c. Journalize the entry to record the receipt of the payment of the note at maturity.

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