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prepare the journal entry assuming the note is honored by the customer on october 31 646432

1. On August 2, 2011, JLK Co. receives a $5,500, 90 day, 12% note from customer Tom Menke as payment on his $9,000 account.

(1) Compute the maturity date for this note.

(2) Prepare JLK’s journal entry for August 2.

2. On August 2, 2011, JLK Co. receives a $5,500, 90 day, 12% note from customer Tom Menke as payment on his $9,000 account.

(1) Compute the maturity date for this note.

(2) Prepare JLK’s journal entry for August 2.

3. Refer to the information in QS 9 5 and Prepare the journal entry assuming the note is honored by the customer on October 31, 2011.

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