A one-year, $25,200, 14% note is signed on April 1. If the note is repaid on November 1 of the same year, how much interest expense is incurred?
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How much interest expense is incurred?
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- Lime Co. incurs a $4,000 note with equal principal installment payments due for the next eight years. What is the amount of the current portion of the noncurrent note payable due in the second year? A. $800 B. $1,000 C. $500 D. nothing, since this is a noncurrent note payableChemical 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?A one-year, $22,400, 10% note is signed on May 1. If the note is repaid on November 1 of the same year, how much interest expense is incurred?
- How much interest expense is incurred?How much interest expense is incurred?KE A non interest bearing promissory note for $1484 00 was discounted at 3% pa. compounded monthly. If the proceeds of the note were $1365.00, how long before the due date was the note discounted? State your answer in years and months (from 0 to 11 months) The note was discounted year(s) and month(s) before the due date