Question: On August 2, 2013, Jun Co. receives a $ 6,000, 90-day, 12% note from customer Ryan Albany as payment on his $ 6,000 account. (1)

On August 2, 2013, Jun Co. receives a $ 6,000, 90-day, 12% note from customer Ryan Albany as payment on his $ 6,000 account.

(1) Compute the maturity date for this note.

(2) Prepare Jun’s journal entry for August 2.


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