PART C: NOTES RECEIVABLE AND NOTES PAYABLE - Method 1 Melanie has asked you to journalize...

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PART C: NOTES RECEIVABLE AND NOTES PAYABLE - Method 1 Melanie has asked you to journalize the life of the following two promissory notes using Method 1. Fiscal Year end is December 31. Fiscal Year Ends December 31. Type Face Interest of Value Rate Time Note without % Day of Issue Maturity Total Interest on Note Date Interest 22 1 N/R $100 000 11.58 4 months Nov 1 2 N/P $80 000 9.98 84 days Nov 10 3 N/R $25 000 7.75 250 days Aug 31 4 N/P 45 000 6.85 8 months Sept 30 PART C: NOTES RECEIVABLE AND NOTES PAYABLE - Method 1 Melanie has asked you to journalize the life of the following two promissory notes using Method 1. Fiscal Year end is December 31. Fiscal Year Ends December 31. Type Face Interest of Value Rate Time Note without % Day of Issue Maturity Total Interest on Note Date Interest 22 1 N/R $100 000 11.58 4 months Nov 1 2 N/P $80 000 9.98 84 days Nov 10 3 N/R $25 000 7.75 250 days Aug 31 4 N/P 45 000 6.85 8 months Sept 30