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Century 21 Accounting General Journal

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter14: Accounting For Uncollectible Accounts Receivable

Section: Chapter Questions

Problem 3AP

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Determine the due date and the amount of interest due at maturity on the following notes:
Date of note Face amount Interest Rate Term of Note
a. January 6
b. March 23
40,000
9,000
9%
45 days
10
60 days
c. May 30
12,000
12
90 days
d. August 30
18,000
10
120 days
e. October 1
10,500
8
60 days
Due Date
Interest
a.
Feb. 20
b.
May 22
c.
Aug. 28
d.
Dec. 28
e.
Nov. 30

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