Entries for Notes Receivable

Autumn Designs & Decorators issued a 120-day, 6% note for $78,000, dated April 13 to Zebra Furniture Company on account. Assume a 360-day year when calculating interest.

Question Content Area

a. Determine the due date of the note.

August 10August 11August 9August 30

b. Determine the maturity value of the note. $fill in the blank 6ab8000aefc0f8b_2

Question Content Area

c1. Journalize the entry to record the receipt of the note by Zebra Furniture. If an amount box does not require an entry, leave it blank.

	Accounts Receivable-Autumn Designs DecoratorsAllowance for Doubtful AccountsBad Debt ExpenseNotes PayableNotes Receivable	- Select -	- Select -
	Accounts Receivable-Autumn Designs DecoratorsAllowance for Doubtful AccountsBad Debt ExpenseNotes PayableNotes Receivable	- Select -	- Select -

Question Content Area

c2. Journalize the entry to record the receipt of payment of the note at maturity. If an amount box does not require an entry, leave it blank.

	Accounts ReceivableBad Debt ExpenseCashInterest RevenueNotes Receivable	- Select -	- Select -
	Accounts ReceivableBad Debt ExpenseCashNotes PayableNotes Receivable	- Select -	- Select -
	Bad Debt ExpenseCashInterest ReceivableInterest RevenueNotes Payable	- Select -	- Select -