Q 1: (5 points each blank, 20 points total) CH.8 On June 8, LR Company...
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Q 1: (5 points each blank, 20 points total) CH.8 On June 8, LR Company (Maker) issued a $100,000,6% (APR), 120 day note payable to Fairfax Company (Payee). Assume the fiscal year of LR Co. ends June 30 and a 360 -day year. * Remember months have different H of days and decimal points make a difference. What is the due date (month & day, Example-Jan 1 )? What is the maturity value of the note? $ What is the amount of interest expense recognized by LRC. in the current fiscal year? $ What is the amount of interest revenue recognized by LR Co. in the following year? $
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