Quick Tire and Lube received a 120-day, 9% note for $48,000, dated June 12, from a customer on account. Assume 360 days in a year.

Question Content Area

a. Determine the due date of the note.

May 1July 12August 1August 7November 10October 10

b. Determine the maturity value of the note. $fill in the blank 23b3c4f9f07bf99_2

Question Content Area

c. Journalize the entry to record the receipt of the payment of the note at maturity. If an amount box does not require an entry, leave it blank.

blank	Accounts ReceivableCashInterest ReceivableInterest RevenueNotes Receivable	- Select -	- Select -
	Accounts ReceivableCashInterest ReceivableNotes ReceivableNotes Payable	- Select -	- Select -
	Accounts ReceivableCashInterest ReceivableInterest RevenueInterest Payable	- Select -	- Select -