Need help with my Accounting question – I’m studying for my class.

i need help on this question, attachment name: 1, please answer the required questions

chapter content: By the conclusion of this chapter, you should be able to:

  1. Define the concept of a promissory note and all of its elements.
  2. Calculate the interest payable or receivable on any given note.
  3. Calculate the accrued adjusting entries of a note receivable or payable at year-end.
  4. Calculate the maturity value of all issued notes receivable and payable.
  5. Recognize the importance of the financing function offered to the business community.

 

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