The Shark Bank lent Sandy's Pastry Store $34,000 on a sixty day, 7% note dated April 10^th. Use a 365 day year when calculating interest and round all amounts to the nearest dollar.
Required:
1. Determine the due date of the note.
2. Determine the maturity value of the note.
3. Journalize the entries to record the receipt of the note by the payee and the receipt by the payee of the amount due on the note at maturity.

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The Answer of The Shark Bank lent Sandy's Pastry Store $34,000 on a sixty day, 7% note dated April 10^th. Use a 365 day year when calculating interest and round all amounts to the nearest dollar. Required: 1. Determine the due date of the note. 2. Determine the maturity value of the note. 3. Journalize the entries to record the receipt of the note by the payee and the receipt by the payee of the amount due on the note at maturity.

The Shark Bank Lent Sandy's Pastry Store $34,000 on a Sixty