Entries for notes receivable valley designs issued a 120-day, 5% note for $60,000 dated april 15 to bork furniture company on account. assume a 360-day year.
a. determine the due date of the note. august 13
b. determine the maturity value of the note. $ 60,000 feedback c1. journalize the entry to record the receipt of the note by bork furniture. notes receivable accounts receivable-valley designs feedback c2. journalize the entry to record the receipt of payment of the note at maturity. if an amount box does not require an entry, leave it blank.
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