Requirement 1. Determine the maturity date and maturity value of each note. (For each applicable note,...

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Requirement 1. Determine the maturity date and maturity value of each note. (For each applicable note, compute interest using a 365-day year. Round to the nearest dollar.) Due date Note Note (1) Note (2) Note (3) Date Date 2024 Oct. 1 Oct. 1 Jun. 30 Sep. 19 Principal Amount Interest Rate Term 25,000 12% 1 year 15,000 8% 9 months 13% 10,000 90 days $ Requirement 2. Journalize the entries to establish each Note Receivable and to record collection of principal and interest at maturity. Include a single adjusting entry on December 31, 2024, the fiscal year-end, to record accrued interest revenue on any applicable note. Explanations are not required. Round to the nearest dollar. (Record debits first, then credits. Exclude explanations from journal entries.) Begin with the journal entry to establish note 1. Accounts and Explanation Note Receivable (Note 1) Cash Journalize the entry to establish note 2. Date 2024 Jun. 30 Note Receivable (Note 2) Cash Accounts and Explanation Debit 25,000 Debit Month/Day Oct. 1 Mar. 30 Dec. 18 15.000 Credit 25,000 Credit Year Maturity value 2025 $ 28,000 2025 15,900 2024 10,321 15,000 Journalize the entry to establish note 3. Date 2024 Sep. 19 Note Receivable (Note 3) Cash Accounts and Explanation Debit 10,000 Cash Interest Receivable Interest Revenue Note Receivable (Note 1) Journalize the single adjusting entry to record accrued interest revenue on any applicable note(s) on December 31, 2024, the fiscal year-end. Date Accounts and Explanation Debit 2024 Dec. 31 Interest Receivable Interest Revenue 1,350 Credit Debit 10,000 28000 Now journalize the collection of principal and interest at maturity on the three notes. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.) Journalize the collection of principal and interest at maturity for note (1) Date Accounts and Explanation 2025 Oct. 1 Credit 1,350 Credit 25000 Requirement 1. Determine the maturity date and maturity value of each note. (For each applicable note, compute interest using a 365-day year. Round to the nearest dollar.) Due date Note Note (1) Note (2) Note (3) Date Date 2024 Oct. 1 Oct. 1 Jun. 30 Sep. 19 Principal Amount Interest Rate Term 25,000 12% 1 year 15,000 8% 9 months 13% 10,000 90 days $ Requirement 2. Journalize the entries to establish each Note Receivable and to record collection of principal and interest at maturity. Include a single adjusting entry on December 31, 2024, the fiscal year-end, to record accrued interest revenue on any applicable note. Explanations are not required. Round to the nearest dollar. (Record debits first, then credits. Exclude explanations from journal entries.) Begin with the journal entry to establish note 1. Accounts and Explanation Note Receivable (Note 1) Cash Journalize the entry to establish note 2. Date 2024 Jun. 30 Note Receivable (Note 2) Cash Accounts and Explanation Debit 25,000 Debit Month/Day Oct. 1 Mar. 30 Dec. 18 15.000 Credit 25,000 Credit Year Maturity value 2025 $ 28,000 2025 15,900 2024 10,321 15,000 Journalize the entry to establish note 3. Date 2024 Sep. 19 Note Receivable (Note 3) Cash Accounts and Explanation Debit 10,000 Cash Interest Receivable Interest Revenue Note Receivable (Note 1) Journalize the single adjusting entry to record accrued interest revenue on any applicable note(s) on December 31, 2024, the fiscal year-end. Date Accounts and Explanation Debit 2024 Dec. 31 Interest Receivable Interest Revenue 1,350 Credit Debit 10,000 28000 Now journalize the collection of principal and interest at maturity on the three notes. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.) Journalize the collection of principal and interest at maturity for note (1) Date Accounts and Explanation 2025 Oct. 1 Credit 1,350 Credit 25000 Requirement 1. Determine the maturity date and maturity value of each note. (For each applicable note, compute interest using a 365-day year. Round to the nearest dollar.) Due date Note Note (1) Note (2) Note (3) Date Date 2024 Oct. 1 Oct. 1 Jun. 30 Sep. 19 Principal Amount Interest Rate Term 25,000 12% 1 year 15,000 8% 9 months 13% 10,000 90 days $ Requirement 2. Journalize the entries to establish each Note Receivable and to record collection of principal and interest at maturity. Include a single adjusting entry on December 31, 2024, the fiscal year-end, to record accrued interest revenue on any applicable note. Explanations are not required. Round to the nearest dollar. (Record debits first, then credits. Exclude explanations from journal entries.) Begin with the journal entry to establish note 1. Accounts and Explanation Note Receivable (Note 1) Cash Journalize the entry to establish note 2. Date 2024 Jun. 30 Note Receivable (Note 2) Cash Accounts and Explanation Debit 25,000 Debit Month/Day Oct. 1 Mar. 30 Dec. 18 15.000 Credit 25,000 Credit Year Maturity value 2025 $ 28,000 2025 15,900 2024 10,321 15,000 Journalize the entry to establish note 3. Date 2024 Sep. 19 Note Receivable (Note 3) Cash Accounts and Explanation Debit 10,000 Cash Interest Receivable Interest Revenue Note Receivable (Note 1) Journalize the single adjusting entry to record accrued interest revenue on any applicable note(s) on December 31, 2024, the fiscal year-end. Date Accounts and Explanation Debit 2024 Dec. 31 Interest Receivable Interest Revenue 1,350 Credit Debit 10,000 28000 Now journalize the collection of principal and interest at maturity on the three notes. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.) Journalize the collection of principal and interest at maturity for note (1) Date Accounts and Explanation 2025 Oct. 1 Credit 1,350 Credit 25000 Requirement 1. Determine the maturity date and maturity value of each note. (For each applicable note, compute interest using a 365-day year. Round to the nearest dollar.) Due date Note Note (1) Note (2) Note (3) Date Date 2024 Oct. 1 Oct. 1 Jun. 30 Sep. 19 Principal Amount Interest Rate Term 25,000 12% 1 year 15,000 8% 9 months 13% 10,000 90 days $ Requirement 2. Journalize the entries to establish each Note Receivable and to record collection of principal and interest at maturity. Include a single adjusting entry on December 31, 2024, the fiscal year-end, to record accrued interest revenue on any applicable note. Explanations are not required. Round to the nearest dollar. (Record debits first, then credits. Exclude explanations from journal entries.) Begin with the journal entry to establish note 1. Accounts and Explanation Note Receivable (Note 1) Cash Journalize the entry to establish note 2. Date 2024 Jun. 30 Note Receivable (Note 2) Cash Accounts and Explanation Debit 25,000 Debit Month/Day Oct. 1 Mar. 30 Dec. 18 15.000 Credit 25,000 Credit Year Maturity value 2025 $ 28,000 2025 15,900 2024 10,321 15,000 Journalize the entry to establish note 3. Date 2024 Sep. 19 Note Receivable (Note 3) Cash Accounts and Explanation Debit 10,000 Cash Interest Receivable Interest Revenue Note Receivable (Note 1) Journalize the single adjusting entry to record accrued interest revenue on any applicable note(s) on December 31, 2024, the fiscal year-end. Date Accounts and Explanation Debit 2024 Dec. 31 Interest Receivable Interest Revenue 1,350 Credit Debit 10,000 28000 Now journalize the collection of principal and interest at maturity on the three notes. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.) Journalize the collection of principal and interest at maturity for note (1) Date Accounts and Explanation 2025 Oct. 1 Credit 1,350 Credit 25000

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ANSWER Requirement 1 Note Due Date Date Principal Amount Interest Rate Term Maturity Date Maturity V... View the full answer