Calculate the due date, interest due, and maturity value of the following notes: Date of NoteFace AmountInterest RateTerm of NoteDue DateInterest DueMaturity Value a.24-Apr$70,0003%60 days b.13-Jul30,0005%120 days c.9-Aug40,0004%45 days d.12-Sep60,0008%90 days e.5-Nov50,0006%30 days

The interest receivable is the interest earned but not received yet. The maturity value is…

Answered: Calculate the due date, interest due,…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 24Q: Chemical Enterprises issues a note in the amount of $156,000 to a customer on January 1, 2018. Terms...

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Calculate the due date, interest due, and maturity value of the following notes:

	Date of Note	Face Amount	Interest Rate	Term of Note	Due Date	Interest Due	Maturity Value
a.	24-Apr	$70,000	3%	60 days
b.	13-Jul	30,000	5%	120 days
c.	9-Aug	40,000	4%	45 days
d.	12-Sep	60,000	8%	90 days
e.	5-Nov	50,000	6%	30 days

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