need help i want answer about this question A company receives a 6.2%, 60-day note for $9,65The total amount of cash due on the maturity datea. $598.30.b. $99.72.c. $9,650.00.d. $9,749.72.

Step 1: Definition of Maturity date:It is the due date of the instrument payment in full amount…

Answered: A company receives a 6.2%, 60-day note…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 16Q: Jain Enterprises honors a short-term note payable. Principal on the note is $425,000, with an annual...

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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?
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On June 5 Glover Co. issued a $60,000, 6%, 120-day note payable to Jones Co. How much will Glover Co. have to pay at maturity? a. $63,600. b. $58,800. c. $60,000. d. $61,200.
A 60-day, 6% note for $26,400, dated May 1, is received from a customer on account. The maturity value of the note, assuming a 360- day year, is A.$264 Ob. $26,664 Oc. $26,400 Od. $27,984
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A 60-day, 12% note for $38,400, dated May 1, is received from a customer on account. The maturity value of the note is a.$39,168 b.$768 c.$43,008 d.$38,400
On July 8, Action Co. issued an $80,000, 6%, 90-day note payable to Scanlon Co. Assuming a 360-day year, what is the maturity value of the note? a.$84,800 b.$78,800 c.$80,000 d.$81,200
A company issued a 60 day 11% note for $17,000. What is the principal amount of the note? Round your answer to the nearest dollar. A) $16,688 B) $17,000 C) $18,870 D) $17,312
4. AB company receives $10,000 for a 6 month, 8% note on 11/1/20. Prepare the journal entry for the receipt. Account Debit Credit 5. Prepare the journal entry to accrue interest on the above note at 12/31/20. Account Debit Credit 6. Prepare the entry to record payment of the above note in full on it's due date of 5/1/21. Account Debit Credit 7. AB Company purchases a truck in the amount of $15,000. Additional costs include sales tax of $1500, painting of $2500, license of $150 and a 1 year auto insurance policy of $1200. Complete the journal entry for the auto purchase. Account Debit Credit
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The interest due at maturity on a $489.52, 8% note, dated May 28 and due August 2 is a.$6.30. b.$7.18. c.$4.37. d.$6.04.

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A company receives a 6.2%, 60-day note for $9,65 The total amount of cash due on the maturity date a. $598.30. b. $99.72. c. $9,650.00. d. $9,749.72.