624 chapter 9 Learning Objective 4 1. Note 2-Maturity Value $20,900 P9-38B Accounting for notes receivable and accruing interest Christie Realty loaned money and received the following notes during 2014. Term Note Date Principal Amount Interest Rate (1) Jun. 1 $ 12,000 10% 1 year (2) Sep. 30 20,000 9% 6 months (3) Oct. 19 10,000 12% 30 days Requirements 1. Determine the maturity date and maturity value of each note. 2. Journalize the entry to record the inception of each of the three notes and journalize a single adjusting entry at October 31, 2014, the fiscal year-end record accrued interest revenue on all three notes. Explanations are not re- 3. Journalize the collection of principal and interest at maturity of all three Explanations are not required