Question: Please complete in excel P931A Accounting for notes receivable and accruing interest Kelly Realty loaned money and received the following notes during 2014 Note Date

Please complete in excel P931A Accounting for notes receivable and accruing

Please complete in excel

P931A Accounting for notes receivable and accruing interest Kelly Realty loaned money and received the following notes during 2014 Note Date Principal Amount Interest RateTerm (1) Aug.1 24,000 1 year (2) Nov. 30 18,000 6 months 6% (3) Dec. 19 30 days 12,000 12% Requirements 1. Determine the maturity date and maturity value of each note. 2. Journalize the entry to record the inception of each of the three notes and also journalize a single adjusting entry at December 31, 2014, the fiscal year-end, to record accrued interest revenue on all three notes. Explanations are not required. 3. Journalize the collection of principal and interest at maturity of all three notes. Explanations are not required

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