Problem #1 July 5, XYZ Company purchased equipment by issuing a $100,000, 45-day note to...
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Problem #1 July 5, XYZ Company purchased equipment by issuing a $100,000, 45-day note to NewCo. the interest rate on the note was 4.5%. [Round dollars to two decimal points $1,279.95] 1) Calculate the Maturity Date. 2) Calculate the Maturity Value. 3) Record the journal entries for the receipt and payment of the note payable.
Problem \#1 July 5, XYZ Company purchased equipment by issuing a $100,000,45-day note to NewCo. the interest rate on the note was 4.5%. [Round dollars to two decimal points $1,279.95 ] 1) Calculate the Maturity Date. 2) Calculate the Maturity Value. 3) Record the journal entries for the receipt and payment of the note payable
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