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Alex777 [14]
3 years ago
11

On april 12, hong company agrees to accept a 60-day, 10%, $4,500 note from indigo company to extend the due date on an overdue a

ccount. what is the journal entry that indigo company would make, when it records payment of the note on the maturity date? (use 360 days a year.)
Business
1 answer:
zzz [600]3 years ago
6 0
<span>Total interest due = [ $ 4,500 x 0.10 x (60/360) ] = $ 75</span>
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