Entries for discounted note payable A business issued a 90-day note for $57,000 to a bank. The note was discounted at 6%. Assume a 360 days in a year. O a. Journalize the entry to record the issuance of the note. If an amount box does not require an entry, leave it blank. If necessary, round your answers to one decimal place. b. Journalize the entry to record the payment of the note at maturity. If an amount box does not require an entry, leave it blank.

Entries for discounted note payable A business issued a 90-day note for $57,000 to a bank. The note was discounted at 6%. Assume a 360 days in a year. O a. Journalize the entry to record the issuance of the note. If an amount box does not require an entry, leave it blank. If necessary, round your answers to one decimal place. b. Journalize the entry to record the payment of the note at maturity. If an amount box does not require an entry, leave it blank.

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

ChapterD: Notes Payable And Notes Receivable

Section: Chapter Questions

Problem 4P

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Entries for Discounted Note Payable A business issued a 90-day note for $57,000 to a bank. The note was discounted at 6%. Assume a 360-day year. a. Journalize the entry to record the issuance of the note. If an amount box does not require an entry, leave it blank. If necessary, round to one decimal place. fill in the blank c68ddb02d07e078_2 fill in the blank c68ddb02d07e078_3 fill in the blank c68ddb02d07e078_5 fill in the blank c68ddb02d07e078_6 fill in the blank c68ddb02d07e078_8 fill in the blank c68ddb02d07e078_9 b. Journalize the entry to record the payment of the note at maturity. If an amount box does not require an entry, leave it blank. fill in the blank 9fbf4a07707ffe0_2 fill in the blank 9fbf4a07707ffe0_3 fill in the blank 9fbf4a07707ffe0_5 fill in the blank 9fbf4a07707ffe0_6
Note receivable Prefix Supply Company received a 120-day, 6% note for $500,000, dated April 12 from a customer on account. Assume 360-days in a year. 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. If an amount box does not require an entry, leave it blank. 88