LT X v2 cengagenow.com/ilm AssignmentMain.do?inprogress-true Ch 9-2 Practice Exe

Question

LT X v2 cengagenow.com/ilm AssignmentMain.do?inprogress-true Ch 9-2 Practice Exercises Show Me How Calculator Print item eBook Note Recelvable 1. PE.09-01.ALGO Hasty and Tasty Foodservice received a 120-day, 8% note for $84,000, dated April 9, from a customer on account. Assume 360 days in a year 2. PE.09-02.ALGO a. Determine the due date of the note. 3. PE.09-03.ALGO 4. PE.09-04.ALGO b. Determine the maturity value of the note. 5. PE.09-05.ALGO c. Journallze the entry to record the recelpt of the payment of the note at maturity. If an amount box does not requlre an entry, leave it blank. Check My Work 2 more Check My Work uses remaining. Previous Progress: 515 items Assignment Score: 76% Save and Exit Submit Assignment for Grading 8:37 PM Type here to search 12/9/2017

Explanation / Answer

Dear Student Thank you for using Chegg Please find below the answer and please give thumbs up   Statementshowing Computations Paticulars Amount Note received date 9-Apr Due date of the note = 21 + 31 + 30 + 31 + 7 7-Aug Maturity Value of note = 84000* 8%*120/360                  2,240.00 Dr Cr Cash dr                86,240.00 To Note receivable               84,000.00 To interest revenue                2,240.00

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