Question: please help me with my mistakes, thanks! Entries for notes receivable Valley Designs issued a 90-day, 8% note for $96,000, dated April 19, to Bork
Entries for notes receivable Valley Designs issued a 90-day, 8% note for $96,000, dated April 19, to Bork Furniture Company on account. Assume 360 days in a year when computing the interest. a. Determine the due date of the note. July 18 b. Determine the maturity value of the note. 106,800 X c1. Journalize the entry to record the receipt of the note by Bork Furniture. If an amount box does not require an entry, leave it blank. Notes Receivable -V 96,000 Accounts Receivable-Valley Designs c2. Journalize the entry to record the receipt of payment of the note Cash - V 106,800 X Notes Receivable Interest Revenue 96,000 96,000 10,300 maturity. If an amount box does not require an entry, leave it blank
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