Question: Autumn Designs & Decorators issued a 120-day. 4% note for $76,800, dated April 13 to Zebra Furniture Company on account. Required: a. Determine the


Autumn Designs & Decorators issued a 120-day. 4% note for $76,800, dated April 13 to Zebra Furniture Company on account. Required: a. Determine the due date of the note b. Determine the maturity value of the note. Assume a 360-day year when calculating interest. Do not round your intermediate calculations and round your final answer to the nearest dollar. c. Joumalize the entries to record the following: (1) receipt of the note by Zebra Fumiture and (2) receipt of payment of the note at maturity. Refer to the chart of accounts for the exact wording of the account titles. CNOW joumals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered First Questions a. Determine the due date of the note b. Determine the matury value of the note. Assume a 360-day year when calculating interest. Do not round your intermediate calculations and round your final answer to the nearest dollar c. (1) Journalize the entry to record the mosipt of the note by Zebra Funiture Refer to the chart of accounts for the exact wording of the account shes. CNOW joumas de not une lines for jumal explanations. Every tine on a journal page is used for debt or t CNOW joumals will automatically indent a credit entry when a credit amount is entered JOURNAL MYINTIN DATE DESCAPTION DON'T CUTES c) Joumate the entry to record the receipt of payment of the note at maturity Refer to the chart of accounts to the exact wording of the accounts CNOW joumale do not use ne formal expantion Every ne on ajomat page for debtor eries CNOW jumals will automatically indent a credit entry when a credit amount is JOURNAL DATE DECEPTION FULL SHE A Qu
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