11. Complete the following for this interest-bearing note that is discounted at 11 percent. (Use ordinarytime)Time50 daysMaturity Date NoteValueMadeJune 2Date Note DiscountDiscounted Period ProceedsJune 28BсA12 On October 18 2001 Blue Ridge Corporation accepted a $300 000 pon-interest-hearing note fromRate ofPrincipal Interest$90,0008%

Interest Bearing Note: It represents the funds provided by the lender to the borrower as a loan on…

Answered: 11. Complete the following for this…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Determine the due date and the amount of interest due at maturity on the following notes: Date of note Face amount Interest Rate Term of Note a. January 6 b. March 23 40,000 9,000 9% 45 days 10 60 days c. May 30 12,000 12 90 days d. August 30 18,000 10 120 days e. October 1 10,500 8 60 days Due Date Interest a. Feb. 20 b. May 22 c. Aug. 28 d. Dec. 28 e. Nov. 30
Proceeds from Notes Payable On January 26, Nova Co. borrowed cash from Conrad Bank by issuing a 60-day note with a face amount of $37, 200. Assume a 360-day year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 6%. Sfill in the blank 1 b. Determine the proceeds of the note, assuming the note is discounted at 6%. Sfill in the blank 2
None
Maturity Dates of Notes Receivable Determine the maturity date and compute the interest for each of the following notes: (Round to the nearest dollar.)\table[[,\table[[Date of], [Note]], Interest,], [a., August 5, $12,000,9%, 120 days], [b., May 10, 33,600,7%, 90 days ], [c., October 20, 48,000, 12%, 45 days], [d., July 16,9,000, 10%, 60 days], [e., September 15, 19,000,7%,75 days]]
The maturity value of a $183,600, 11%, 40-day note receivable dated July 3 is a.$185,844 b.$183,600 c.$192,576 d.$203,796
Interest on note: $1,137.50interest rate: 10%Note dated: 3/17/2024Note due date: 10/13/2024Days in year (ordinary interest) 3601.What is the term of the loan (in days)?2. What is the principal in on the note?
A B E 2 Determine the maturity date and compute interest for each note. 3 Days to be used per year 360 days 4 Note Contract Date Principal Interest Rate Period of Note (Term) 6. 1 1-Mar $10,000 6% 60 days 7 2 15-May 15,000 8% 90 days 8 3 20-Oct 8,000 4% 45 days 9. 10 Required: 11 12 (Use cells A5 to F8 from the given information to complete this question.) 13 14 Note Contract Date Maturity Date Interest Expense 15 16 17 3 18
Maturity Dates of Notes PayableDetermine the maturity date and compute the interest for each of the following notes payable with add-on interest:Use 360 days for calculations and round to the nearest dollar. Date of note Principal Interest Rate (%) Term a. August 5 $17,000 8% 120 days b. May 10 10,400 7% 90 days c. October 20 14,000 9% 60days d. July 6 6,500 10% 75 days e. September 15 15,500 8% 75 days For the maturity date, select the appropriate month using the drop-down menu and enter the correct day next to the month using the fill-in the blank answer box. Maturity Date Interest a. Answer Answer Answer b. Answer Answer Answer c. Answer Answer Answer d. Answer Answer Answer e. Answer Answer Answer
How do I find the maturity value and maturity date of an interest-bearing promissory note that has a face value of $1,270? Interest rate percent of 7.1 and term of note 130 days?
What account would be debited (1), what account would be credit (2), and what amount would be paid to record the journal entry for each interest payment based on a $200,000 five-year, 10% bond and the bond was issued at $192,462 (11%) and interest is paid semiannually? JOURNAL Page 25 DATE DESCRIPTION P.REF. DEBIT CREDIT (1) ? (2) ? (1) Interest Expense debit $11,000, and (2) Cash credit $11,000 (1) Interest Expense debit $10,000 and (2) Cash credit $10,000 (1) Cash debit $20,000 and (2) Interest Expense credit $20,000 (1) Cash debit $22,000, and (2) Interest Expense credit $22,000
E10-3A Accrued Interest Payable Compute the interest accrued on each of the following notes payable owed by Northland, Inc., on December 31: Lender Date of Note Principal Interest Rate Term Maple 11/21 $18,000 11% 120 day Wyman 12/13 14,000 8 90 days Nahn 12/10 16,000 12 60 days
Determine Due Date and Interest on Notes Determine the due date and the amount of interest due at maturity on the following notes. When calculating interest amounts, assume there are 360 days in a year. Round intermediate calculations to 4 decimal places, and round your final answers to the nearest whole dollar. Date of Note Face Amount Interest Rate Term of Note a. January 15 $73,400 11 % 30 days b. April 1 17,375 13 90 days c. June 22 31,500 12 45 days d. August 30 23,265 10 120 days e. October 16 12,530 12 50 days Due Date Interest Due at Maturity a. $fill in the blank 2 b. $fill in the blank 4 c. $fill in the blank 6 d. $fill in the blank 8 e. $fill in the blank 10

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11. Complete the following for this interest-bearing note that is discounted at 11 percent. (Use ordinary time) Rate of Principal Interest $90,000 8% Time 50 days Maturity Date Note Made June 2 Value A Date Note Discounted June 28 Discount Period B Proceeds C