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

Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter10: Liabilities: Current, Installment Notes, And Contingencies
Section: Chapter Questions
Problem 10.1BE: Proceeds from notes payable On January 26, Nyree Co. borrowed cash from Conrad Bank by issuing a...
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11. Complete the following for this interest-bearing note that is discounted at 11 percent. (Use ordinary
time)
Time
50 days
Maturity Date Note
Value
Made
June 2
Date Note Discount
Discounted Period Proceeds
June 28
B
с
A
12 On October 18 2001 Blue Ridge Corporation accepted a $300 000 pon-interest-hearing note from
Rate of
Principal Interest
$90,000
8%
Transcribed Image Text:11. Complete the following for this interest-bearing note that is discounted at 11 percent. (Use ordinary time) Time 50 days Maturity Date Note Value Made June 2 Date Note Discount Discounted Period Proceeds June 28 B с A 12 On October 18 2001 Blue Ridge Corporation accepted a $300 000 pon-interest-hearing note from Rate of Principal Interest $90,000 8%
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