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QUESTION

Note Receivable Cube Ice Company received a 120-day, 9% note for $12,000, dated April 9, from a customer on account. Assume 360 days in a year....

Note Receivable

Cube Ice Company received a 120-day, 9% note for $12,000, dated April 9, from a customer on account. Assume 360 days in a year.

a. Determine the due date of the note.

b. Determine the maturity value of the note.

$

c. Journalize the entry to record the receipt of the payment of the note at maturity. If an amount box does not require an entry, leave it blank.

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