Accounting for notes receivable and accruing interest. Kelly Realty loaned money and received the following notes during 2014. Note Date Principal Amount Interest Rate Term 1 Aug. 1 $ 24,000.00 17% 1 year 2 Nov. 30 $ 18,000.00 6% 6 months 3 Dec. 19 $ 12,000.00 12% 30 days Requirements 1. Determine the maturity date and maturity value of each note. 2. Journalize the entry to record the inception of each of the three notes.
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