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Determine the due date of the note

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Reference no: EM132877211

Problem - Note receivable - Gorilla Supply Company received a 120-day, 5% note for $150,000, dated March 27 from a customer on account.

Required -

a. Determine the due date of the note.

b. Determine the maturity value of the note.

c. Journalize the entry to record the receipt of the payment of the note at maturity.

Reference no: EM132877211

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