Question: 1, Note 2: Due date, May 22; Interest due at maturity, $300 PR 8-4A Details of notes receivable and related entries Water Closet Co. wholesales
1, Note 2: Due date, May 22; Interest due at maturity, $300 PR 8-4A Details of notes receivable and related entries Water Closet Co. wholesales bathroom fixtures, During the current year ending December 31. Water Closet received the following notes: Instructions 1. Determine for each note (a) the due date and (b) the amount of interest due at maturity, identifying cach note by number. 2. Journalize the entry to record the dishonor of Note (3) on its due date, 3. Joumalize the adusting entry to record the accrued interest on Notes (5) and (6) on December 31. 4. Journalize the entries to record the receipt of the amounts due on Notes (5) and (6) in January and February
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