Answer:
a. July 20
b. 79.755
c1. 78.000
c2. Note receivable 78.000
interest income 1755
Explanation:
a.Due Date of Note :
April 17 + 90 days = July 20
b.Maturity Value of Note
78000+ 78000x 9% x 90/360 = 79.755
c1. Note Receivable a/c Dr. 78.000
To Cash 78.000
c2. Cash a/c Dr. 79.755
To Note Receivable 78.000
To Interest Income 1755