Entries for Notes Receivable Valley Designs issued a 90-day, 12% note for $66,000, dated April 19,...

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Entries for Notes Receivable Valley Designs issued a 90-day, 12% note for $66,000, dated April 19, to Bork Furniture Company on account. Assume 360 days in a year when computing the interest. a. Determine the due date of the note. b. Determine the maturity value of the note. c1. Journalize the entry to record the receipt of the note by Bork Furniture. If an amount box does not require an entry, leave it blank. 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. E Entries for Notes Receivable Valley Designs issued a 90-day, 12% note for $66,000, dated April 19, to Bork Furniture Company on account. Assume 360 days in a year when computing the interest. a. Determine the due date of the note. b. Determine the maturity value of the note. c1. Journalize the entry to record the receipt of the note by Bork Furniture. If an amount box does not require an entry, leave it blank. 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. E

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a Days April 20 to April 30 11 May 1 to May 31 31 June 1 to June 30 30 July 1 ... View the full answer