Prefix Supply Company received a 120 customer on account. Assume 360 days in a year. day, 8% note for $450, 000, dated April 9 from a 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.

Prefix Supply Company received a 120 customer on account. Assume 360 days in a year. day, 8% note for $450, 000, dated April 9 from a 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.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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