Determine the due date of the note, Accounting Basics

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Determine the due date of the note

Sunshine Service Center received a 120-day, 6% note for $40,000, dated April 12 from a customer on account. Assume a 360 day year

a. Determine the due date of the note.
b. Determinet he maturity value of the note.
c. Journalize the entry to record the receipt of the payment of the note at maturity.

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Accounting Basics: Determine the due date of the note

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Accounting Basics: Determine the due date of the note

Reference No:- TGS089856

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Wat amount of the costs should be capitalized

Q : Appropriate technical and organizational controls

Q : Gain reduce current-year pension expense

Q : Create an educational brochure about certain conditions

Q : Determine the due date of the note

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Determine the due date of the note

Reference No:- TGS089856

Recent Questions Asked Accounting Basics

Q : Wat amount of the costs should be capitalized

Q : Appropriate technical and organizational controls

Q : Gain reduce current-year pension expense

Q : Create an educational brochure about certain conditions

Q : Determine the due date of the note

Q : What is the difference between efficiency

Q : Prepare the journal entry to record the exchange

Q : Factor in the production planning process

Q : When a molecule becomes oxidized? reduced

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