Solution-Determine the maturity value of the note

Determine the maturity value of the note

Reference no: EM133189852

Question - Prefix Supply Company received a 120-day, 8% note for $450,000, dated April 9 from a customer on account. Assume 360 days in a year.

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. If an amount box does not require an entry, leave it blank.

Reference no: EM133189852

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Determine the maturity value of the note

Reference no: EM133189852

Reference no: EM133189852

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