Score: 0 of 4 pts 6 7 (0 complete HW Score: 0%, 0 of 25 pts P8-32A (book/static)

Question

Score: 0 of 4 pts 6 7 (0 complete HW Score: 0%, 0 of 25 pts P8-32A (book/static) (Cick hecan to vlew thc noes recchred.) Head heccuamants Requirement 1. Determinc tha maturity date and maturty valuc a esch nata. oach applicabie no, copute Interest usingaday year. Round to the neanest colar. Note 1) p 2) ep. 30 Dul Principel Amount Interest Rate 6,000 12,000 Term MunthDuy Yeur 7% 6% months Data Table Detemine the meturity date and maturty value of ench note colecticn of princpal and incr a maturity Incude a cihgle scjuzting entry on amy applizable nots. Explanaton arc not requircd. Round to the naarest Late Princlpal AmountInterest Hate Apr. 6000 2 000 18000 7% 1 ycar 7 Sp 30 3) Sep. 19 menths 90 deys dols 8% Pint Done i Cone

Explanation / Answer

1.

Maturity Value:

Calculation of interest on Notes:

2. Interest accrued on Note 1 = 6000 * 7% * 9/12 = $315

Interest accrued on Note 2 = 12000 *6% * 3/12 = $180

Total accured interest = 315 +180 = 495

Journal Entry:

Note Date Month/Day Year 1 1,April 1,April 2019 2 30,Sep 31,March 2019 3 19,Sep 18,December 2018

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