Question: eBook Show Me How Question Content Area Note Receivable Prefix Supply Company received a 120-day, 8% note for $450,000, dated April 9 from a customer

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Question Content Area

Note Receivable

Prefix Supply Company received a 120-day, 8% note for $450,000, dated April 9 from a customer on account. Assume 360 days in a year.

Question Content Area

a. Determine the due date of the note.

April 21August 7July 31June 30May 31August 7

b. Determine the maturity value of the note. $fill in the blank 659f98005fe8fc3_2

Question Content Area

c. Journalize the entry to record the receipt of the payment of the note at maturity. If an amount box does not require an entry, leave it blank.

Aug. 7

CashInterest ReceivableInterest RevenueNotes ReceivableNotes PayableUnearned InterestInterest Revenue

 Interest Revenue Interest Revenue

Accounts ReceivableCashInterest ReceivableNotes ReceivableNotes PayableUnearned Interest

 - Select - - Select -

CashInterest ReceivableInterest RevenueInterest PayableNotes PayableUnearned Interest

 - Select - - Select -

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