Received a $60,000, 60 days, 5% note from customer. R. Sons Ltd. on May 17, 2021 for a loan issued. a. Calculate the maturity date. Show your calculation. (2 pts) b. Calculate the maturity value of the note. Show your calculation. (2 pts) c. Journalize the receipt of the note and the receipt of payment on the note. State correct dates in your journal (6 pts) Date Details Dr. Cr. Journal d. Based on (c), what entries would be different if the note was dishonored? (1 pt) e. If the note was dishonored and payment was received 90 days after at 4%, journalize the receipt of the payment from the customer. Sta correct date in your journal. (3.5 pts)

Q&A Education