The interest on a $4,000, 6%, 90-day note receivable is O $120 O $180 O $240 $60
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- Total interest to be earned on a $7,500, 5%, 90-day note is a. $93.75. c. $1,125.00. e. $125.00. b. $375.00. d. $31.25.430 Chapter 8 Receivables Obi * EX 8-19 Determine due date and interest on notes Determine the due date and the amount of interest due at maturity on the following notes Va. May 4, $1,800 Interest Rate Term of Note Date of Note Face Amount 120 days 30 days 45 days 90 days 90 days $90,000 6% January 5* February 15 May 19 August 20 October 19 a. (0) 4 21,000 68,000 b. SHOW ME HOW EXCEL TEMPLATE C. 8. d. 34,400 50,000 e. Assume a leap year in which February has 29 days. Obj. 6The interest on a $3,000, 10%, 180-day note receivable is (assume 360 days per year) O $150 O $3.300 O $300 $3000 Onmi ERCO DUTO
- What is the annual rate of interest being charged on a 3-month note receivable of $51,000 if the total interest is $1,530? 22 Multiple Choice 3% O 6% 7% 12% JGiven: 11% 120day $7,000 Note Partial Payments: Day 30 $900 Day 90 $1,200 Find the adjusted balance (principal) using the U.S. Rule (360 day) after the first payment. (Round your answer to the nearest cent.)Proceeds from notes payable On January 26, Nyree Co. borrowed cash from Conrad Bank by issuing a 45-day note with a face amount of 150,000. A. Determine the proceeds of the note, assuming the note carries an interest rate of 10%. B. Determine the proceeds of the note, assuming the note is discounted at 10%.
- Question 31 Nelsie Corporation has an outstanding 60- day 6% note receivable armounting to P 15.000 dated December 1 of the current yoar. The company is using the calendar yoar in preparing its financial statomonts. What account should be creditod and what is the amount? Interest Income, P 75 Interest Income, P 900 Oc Accrued Interest Income, P 150 Unearmed Interest Income, P150Assuming a 360-day year, when a $9,300, 90-day, 6% interest-bearing note payable matures, total payment will be Round your answer to the nearest whole dollar. a.$9,440 b.$9,858 c.$558 d.$140→ w How BE 8-5 Note receivable Obj. 6 Prefix Supply Company received a 120-day, 6% note for $500,000, dated April 12 from a customer on account. a. Determine the due date of the note. b. Determine the maturity value of the note. c. Journalize the entry to record the receipt of the payment of the note at maturity.
- Calculate proceeds for the interest-bearing note using ordinary interest: Face Value Discount Rate Time in Days 36,000 14% 92 ProceedsQuestion Content Area Assuming a 360-day year, the interest charged by the bank, at the rate of 7%, on a 90-day, discounted note payable of $91,392 is a.$3,199 b.$91,392 c.$6,397 d.$1,59910. The interest on a 30-day, $5,500 note issued at 8.5% is a. $41.25 b. $38.96. c. $40.68 d. $42.63