Monster Mashups accepts a $$20000,6\%$ interest, $120$ day note as payment for a sale on inventory on August $1.$

Hint: use the Account List $-$ click to pop open to help you with your journal entries.

a$)$ Record the journal entry required on August $1.$

$\backslash$table$[[$Date$,$Description,Debit,Credit$],[$August $1,,,],[,,,],[,,,]]$

b$)$ What is the maturity date?

Number of days in Note

Days remaining in August

Days in September

Days in October

Days in November

Maturity date: Select an answer $vv$

c$)$ The note is NOT paid at maturity. Record the journal entry required to convert this back to an accounts receivable $($calculate to $2$ decimal places$).$

$\backslash$table$[[$Date$,$Description,Debit,Credit$],[$Maturity$,,,],[,,,],[,,,]]$