Determine the maturity date | Accounting homework help

2010

     

Apr. 20

Purchased $38,500 of merchandise on credit from Frier, terms are 1/10, n/30. Tytus uses the perpetual inventory system.

May 19

Replaced the April 20 account payable to Frier with a 90-day, $30,000 note bearing 8% annual interest along with paying $8,500 in cash.

July 8

Borrowed $66,000 cash from Community Bank by signing a 120-day, 11% interest-bearing note with a face value of $66,000.

__?__

Paid the amount due on the note to Frier at the maturity date.

__?__

Paid the amount due on the note to Community Bank at the maturity date.

Nov. 28

Borrowed $33,000 cash from UMB Bank by signing a 60-day, 6% interest-bearing note with a face value of $33,000.

Dec. 31

Recorded an adjusting entry for accrued interest on the note to UMB Bank.

Need your ASSIGNMENT done? Use our paper writing service to score better and meet your deadline.


Click Here to Make an Order Click Here to Hire a Writer