4. Help the inexperienced accountant of Ala-alipaw Co. Discount on notes payable on initial recognition (2) reconstruct the information required in the numbered blanks: Face amount (1) Effective interest rate Term of the note (in years) (3) (4) Payments Interest expense Amortization Present value Date 400,000 400,000 1,119,272 898,356 179,084 (5) (6) 12012 12/31/ 256,263 (7) 400,000 102,735 (8) 344,828 (9) 400,000 (10) 344,828
4. Help the inexperienced accountant of Ala-alipaw Co. Discount on notes payable on initial recognition (2) reconstruct the information required in the numbered blanks: Face amount (1) Effective interest rate Term of the note (in years) (3) (4) Payments Interest expense Amortization Present value Date 400,000 400,000 1,119,272 898,356 179,084 (5) (6) 12012 12/31/ 256,263 (7) 400,000 102,735 (8) 344,828 (9) 400,000 (10) 344,828
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 12MC: Which of the following accounts are used when a short-term note payable with 5% interest is honored...
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Question
Fill in the blanks
![reconstruct the information required in the numbered blanks:
4.
4. Help the inexperienced accountant of Ala-alipaw Co.
Face amount
(1)
Effective interest rate
Term of the note (in years)
(3)
(4)
Interest expense Amortization Present value
Date Payments
1/11
1,119,272
400,000
400,000
400,000
400,000
12/31/x1
179,084
(5)
12/31/2
12/31/3
(9)
(6)
102,735
898,356
(7)
256,263
(8)
344,828
(10)
344,828](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F57f6b0b0-cb61-4d2f-a8c8-1d716fe6a488%2F88b7d991-b197-4a50-841b-ada93803036c%2F7r0chdp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:reconstruct the information required in the numbered blanks:
4.
4. Help the inexperienced accountant of Ala-alipaw Co.
Face amount
(1)
Effective interest rate
Term of the note (in years)
(3)
(4)
Interest expense Amortization Present value
Date Payments
1/11
1,119,272
400,000
400,000
400,000
400,000
12/31/x1
179,084
(5)
12/31/2
12/31/3
(9)
(6)
102,735
898,356
(7)
256,263
(8)
344,828
(10)
344,828
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