Question: Valley Ca. received a $200,000,90-day, 7% note, dated February 3 , from Mr. Potts in payment of his account receivable. (Assume a 360 -day year

Valley Ca. received a $200,000,90-day, 7% note, dated February 3 , from Mr. Potts in payment of his account receivable. (Assume a 360 -day year when calculating interest.) a. Determine the due date of the note. b. Determine the interest: c. Determine the maturity value of the note. d. Joumalize the entry for the receipt of the note from Potts on February 3. If an amount box does not require an entry. leave it blank. e. Journalize the entry for the recept of payment of the note at matunty by Valiey co- if an armount box dees not require an entry, leave it blank

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