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Levels Tought:
Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 401 Weeks Ago, 4 Days Ago |
| Questions Answered: | 66690 |
| Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Kelly Realty loaned money and received the follwoing notes during 2014: Note Date Principal Amount Interest Rate Term 1 Aug 1 $24,000 17% 1 year 2 Nov 30 18,000 6% 6 months 3 Dec 19 12,000 12% 30 days Requrements: 1. Determine the maturity date and maturity value of each note 2. Journalize the entry to record the inception of each of these three notes and also journalize a single adjusting entry at December 31, 2014, the fiscal year-end, to record accrued interest revenue on all three notes. Explanation is not required. 3. Journalize the collection of principal and interest at maturity of all three notes. Explanation are not required
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