Question: Receivable Same Day Surgery Center received a 120-day, 9% note for $48,000, dated June 12, from a customer on account. Assume 360 days in a
Receivable Same Day Surgery Center received a 120-day, 9% note for $48,000, dated June 12, from a customer on account. Assume 360 days in a year. a. Determine the due date of the note. October 10 b. Determine the maturity value of the note. 192,000 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. Cash Notes Receivable Interest Revenue
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