A company receives a 5%, 90-day note for $1,800. The total interest due on the maturity date is ? (Use 360 days a year.)
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- Chemical Enterprises issues a note in the amount of $156,000 to a customer on January 1, 2018. Terms of the note show a maturity date of 36 months, and an annual interest rate of 8%. What is the accumulated interest entry if 9 months have passed since note establishment?Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual interest rate of 6%, and payable in four months. How much interest will Marathon Peanuts owe at the end of four months? A. $2,600 B. $7,800 C. $137,800 D. $132,600If Bergen Air Systems takes out a $100,000 loan, with eight equal principal payments due over the next eight years, how much will be accounted for as a current portion of a noncurrent note payable each year?
- Jain Enterprises honors a short-term note payable. Principal on the note is $425,000, with an annual interest rate of 3.5%, due in 6 months. What journal entry is created when Jain honors the note?If the company accepted a Notes Receivable on Oct 1, X1 for $60,000 at 8%, due in one year, what is the Maturity value?A nine months, 15% note for $9000 dated April 15 is reciebed for a customer. The maturity value of the note is what?
- Assuming a 360-day year, when a $50,000, 90-day, 9% interest-bearing note payable matures, the total payment will beAssuming a 360-day year, when a $12,919, 90-day, 6% interest-bearing note payable matures, total payment will amount to:Assuming a 360-day year, when a $12,600, 90-day, 11% interest-bearing note payable matures, total payment will be Round your answer to the nearest whole dollar.
- A company issues a $10,000 two-year, 4% note payable, repayable in 8 quarterly installments with fixed principal payments. How much is the first installment payment?The interest charged on a $234000 note payable, at the rate of 6%, on a 90-day note would be (Use 360 days for calculation.)Suppose that a company borrows 20,000 for 1 year at a stated rate of interest of 9 percent. What is the annual percentage rate (APR) if interest is paid to the lender in annually? semiannually? quarterly?
