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Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 14ISBN: 978-1305653535Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 14ISBN: 978-1305653535 Exercise 18
Note receivable
Prefix Supply Company received a 120-day, 8% note for $450,000, dated April 9 from a customer on account.
A. Determine the due date of the note.
B. Determine the maturity value of the note.
C. Journalize the entry to record the receipt of the payment of the note at maturity.
Prefix Supply Company received a 120-day, 8% note for $450,000, dated April 9 from a customer on account.
A. Determine the due date of the note.
B. Determine the maturity value of the note.
C. Journalize the entry to record the receipt of the payment of the note at maturity.
Explanation
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Verified
Note Receivable
A Promissory Note is re...
Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
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