Question: Entries for Notes Receivable Spring Designs & Decorators issued a 120-day, 8% note for $72,000, dated April 13 to Jaffe Furniture Company on account.

Entries for Notes Receivable Spring Designs & Decorators issued a 120-day, 8%note for $72,000, dated April 13 to Jaffe Furniture Company on account.

Entries for Notes Receivable Spring Designs & Decorators issued a 120-day, 8% note for $72,000, dated April 13 to Jaffe Furniture Company on account. Assume a 360-day year when calculating interest. a. Determine the due date of the note. August 11 b. Determine the maturity value of the note. Feedback Check My Work c1. Journalize the entry to record the receipt of the note by Jaffe Furniture. Notes Receivable Accounts Receivable-Spring Designs Decorators Feedback Check My Work 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. Cash Notes Receivable Interest Revenue :88 000 Check My Wor

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