Question

Payee journal entry of note's maturity when interest has already been * accrued

Answer 1

Explanation:

At the maturity date of a note, the maker is responsible for the principal plus interest. The payee should record the interest earned and remove the note from its Notes Receivable account.

Answer 2

Answer:

At the maturity date of a note, the maker is responsible for the principal plus interest. The payee should record the interest earned and remove the note from its Notes Receivable account.

Explanation:

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