Autumn Designs & Decorators issued a 120-day, 4% note for $93,000, dated April 13 to Zebra Furniture

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Autumn Designs & Decorators issued a 120-day, 4% note for $93,000, dated April 13 to Zebra 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 Jaffe Furniture and (2) receipt of payment of the note at maturity.

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Accounting

ISBN: 9781337902687

28th Edition

Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider

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Question Posted: Apr 07, 2021 07:29 AM

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Autumn Designs & Decorators issued a 120-day, 4% note for $93,000, dated April 13 to Zebra Furniture

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a The due date of the note is August 11 b The maturity value of the note is 96720 c 1 Journal Entry ...View the full answer

Accounting

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