Question: P8-31A required. (For notes stated in days, use a 360-day year. Round to the nearest dollar. P8-31A Accounting for notes receivable and accruing interest Cathy

P8-31A

required. (For notes stated in days, use a 360-day year. Round to the nearest dollar. P8-31A Accounting for notes receivable and accruing interest Cathy Realty loaned money and received the following notes during 2016 Term 1 year 6 months 60 days Note Date Principal Amount Interest Rate (1) Jun. 1 (2) Sep. 30 (3) Oct. 19 18,000 24,000 10,000 5% 12% 9%

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