Business, 31.05.2020 04:00 jessnolonger
Valley Designs issued a 120-day, 6% note for $80,000 dated April 20 to Bork Furniture Company on account. Required: A. Determine the due date of the note. B. Determine the maturity value of the note. Assume a 360-day year. C. Journalize the entries to record the following: (1) receipt of the note by Bork Furniture and (2) receipt of payment of the note at maturity. Refer to the Chart of Accounts for exact wording of account titles.
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Valley Designs issued a 120-day, 6% note for $80,000 dated April 20 to Bork Furniture Company on acc...
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