Question: Entries for Notes Receivable Spring Designs & Decorators issued a 120-day, 12% note for $24,000 interest. , dated April 13 to laffe Furniture Company on
Entries for Notes Receivable Spring Designs & Decorators issued a 120-day, 12% note for $24,000 interest. , dated April 13 to laffe Furniture Company on account. Assume a 360-tay year when calculating a. Determine the due date of the note. b. Determine the maturity value of the note c1. Jounalize the entry to record the receipt of the note by Jaffe Furniture. c2. Oumalize th entry to record the receipt of payment of the note at maturity. If an amount box does not require an entry, heave e bank
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