Solved: Northrop supply company received a 30-day 6 note for 40000, Accounting Basics

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Northrop supply company received a 30-day 6 note for 40000

1. Northrop Supply Company received a 30-day, 6% note for $40,000, dated September 23 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.

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Accounting Basics: Northrop supply company received a 30-day 6 note for 40000

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Accounting Basics: Northrop supply company received a 30-day 6 note for 40000

Reference No:- TGS01509855

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