Question: Google Translate C Log in to Clever Note Receivable Quick Tire and Lube received a 120-day, 9% note for $72,000, dated April 9, f rom

 Google Translate C Log in to Clever Note Receivable Quick Tire

Google Translate C Log in to Clever Note Receivable Quick Tire and Lube received a 120-day, 9% note for $72,000, dated April 9, f rom a customer on account. Assume 360 days in a year a. Determine the due date of the note. August7 b. Determine the maturity value of the note. c. Journalize the entry to record the receipt of the payment of the note at maturity. If an amount box does not require an entry, leave it blank Cash Notes Receivable Interest Revenue 624 PM 2/28/2019

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!