Question: 5) Assume the same information as problem 4 above, except the note was dishonored by Bruce Brown. a. Determine the Maturity Date b. Calculate Interest
5) Assume the same information as problem 4 above, except the note was dishonored by Bruce Brown. a. Determine the Maturity Date b. Calculate Interest c. Calculate Maturity Value d. Record the journal entries for 1) Hanna, Inc.'s receipt of the note, 2) Hanna, Inc.'s accrued interest at 12/31, and 3) the dishonoring of the note. on the Maturity Date. 4) Hanna, Inc, set up a $150,000 note receivable in settlement of the account of Bruce Brown at 5% annual interest for 120 days, starting on December 1,2021 . a. Determine the Maturity Date b. Calculate interest c. Calculate Maturity Value d. Record the journal entries for 1) Hanna, Inc.'s receipt of the note, 2) Hanna, Inc.'s accrued interest at 12/31, and 3) Hanna, Inc.'s collection of the note on the Maturity Date. 5) Assume the same information as problem 4 above, except the note was dishonored by Bruce Brown. a. Determine the Maturity Date b. Calculate Interest c. Calculate Maturity value d. Record the journal entries for 1) Hanna, Inc's receipt of the note, 2) Hanna, inc's accrued interest at 12/31, and 3) the diluhonoring of the note on the Maturity Date
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