Question: Valley Designs issued a 90 -day, 10% note for $78,000, dated April 17 , to Bork Furniture Company on account. Assume 360 days in a

Valley Designs issued a 90 -day, 10% note for $78,000, dated April 17 , to Bork Furniture Company on account. Assume 360 days in a year when computing the intere a. Determine the due date of the note. b. Determine the maturlty value of the note. $ 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. c2. Journalize the entry to record the receipt of payment of the note at maturity. If an amount box does not require an entry, leave it blank
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
