need help some right some wrong Note Receivable Cube Ice Company...
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need help some right some wrong
Note Receivable Cube Ice Company received a 120-day, 7% note for $12,000, dated April 9 from a customer on account. Assume 360 days in a year. a. Determine the due date of the note. August 7 b. Determine the maturity value of the note. 12,360 X Feedback Check My Work The due date is the date the note is to be paid. Assume a 360 day year. The maturity value is the amount that must be paid at the due date 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 Aug. 7 Cash Notes Receivable Interest Revenue 12,000 360
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