Question: Entries for Notes Receivable Oregon Interior Decorators issued a 90-day, 8% note for $78,000, dated April 22, 2014, to Corvallis Furniture Company on account. Assume

Entries for Notes Receivable Oregon Interior Decorators issued a 90-day, 8% note for $78,000, dated April 22, 2014, to Corvallis Furniture Company on account. Assume 360 days in a year when computing the interest. Determine the due date of the note. Determine the maturity value of the note. $ c1. Journalize the entry to record the receipt of the note by Corvallis Furniture. 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
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
