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Journalize the entries to record the following

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Reference no: EM131125520

1. South Bay Interior Decorators issued a 90-day, 6% note for $40,000, dated April 15, to Miami Furniture Company on account.

a. Determine the maturity value of the note.

b. Journalize the entries to record the following: (1) receipt of the note by Miami Furniture and (2) receipt of payment of the note at maturity. 

Reference no: EM131125520

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