A promissory note for $800 00 dated January 15, 2017, requires an interest payment of $140.00 at maturity. If interest is at 12% pa compounded monthly detamine the due date of the note 100 The due date is (Round down to the nearest day)

Q: NOTE DATED APRIL 7, 2021 DUE IN 145 DAYS INTEREST RATE IS 7.5% FACE OF THE NOTE IS $12,000 CALCULATE…

A: Interest Amount = Principal Amount x Interest Rate  Maturity Value = Principal Amount + Interest

Q: Sylvestor Systems borrows $185,000 cash on May 15 by signing a 150-day, 7%, $185,000 note. 1. On…

A: Journal: Recording of a business transactions in a chronological order.

Q: provide correct answer please

A: Step 1: Introduction to Promissory Note:A promissory note is a financial instrument prepared by the…

Q: On April 1, 2020, Mountain Company sold merchandise and received a $19,200, three-year,…

A: A noninterest bearing note of $19,200 has been received by the company for the merchandise which has…

Q: 4)A promissory note for $800.00 dated January 15, 2017, requires an interest payment of $100.00 at…

A: Introduction:- This question involves the calculation of the due date of a promissory note, which is…

Q: On October 12, 2020, Golf Co. received from one of its customers, Ping Co., a $30,500, 8% 90 day…

A: Introduction: Journal: Recording of a business transactions in a chronological order. First step in…

Q: Determine the due date and the amount of interest due

A: Required details are given below

Q: Rice Inc. issued a 120-day note in the amount of $150,000 on October 31, 2013 with an annual rate of…

A: NOTES PAYABLENotes payable are reported under the liabilities section of the balance sheet. Notes…

Q: A 100-day note with a face amount of $54,000 and interest rate of 9% is issued on June 1. Required:…

A: 1.

Q: Blue Inc. has a year-end of June 30.  On December 1, 2020, the company signed a 10-month, 5% note…

A: Interest income for 7 months i.e. from Dec 1, 2020 to June 30 = 28,000 x 5% x 7/12…

Q: 20140.01 35 On September 1, 2024, Daylight Donuts signed a $160,000,8%, six-month note payable with…

A: For  an accounting purposes the interest on a note payable is recorded as an expense on the income…

Q: on June 8th Alton Co issued an $70620 11% 120 Day note payable to seller Co. Assuming a 360 day year…

A: Interest on Note = Face value of Note x rate of interest x No. of days /360 days =…

Q: 10-2A  Maturity Dates of Notes Payable Determine the maturity date and compute the interest for…

A: To calculate maturity date simply add no of days to get the remaining period. No of days taken in a…

Q: What price did the finance company pay for the promissory note?  What rate of interest did the…

A: Formula: For price, the finance company pay for the promissory note S= P(1+rt)P= S(1-dt) Rate of…

Q: ook Inc. accepts on April 1, 2022 a 120-day 12% note for $8,000 worth of accounts receivable past…

A: At maturity, notes are often utilized in a variety of financial transactions, including loans,…

Q: Chemical Enterprises issues a note in the amount of $156,000 to a customer on January 1, 2018. Terms…

A: Introduction: Journals: Recording of a business transactions in a chronological order. Each and…

Q: Determine the due date and the amount of interest due at maturity on the following notes. When…

A: Answer:- The note payable is the amount which the company has to pay and it is considered as a…

Q: On april 12 hong company agrees to accept a 60 day, 10% note from Indigo to extend the overdue…

A: Increase in liabilities should be credited and decrease in liabilities should be debited.

Q: Determine the maturity date and compute interest for each note. Note: Use 360 days a year. Do not…

A: The date that the principal balance of a note, draft, acceptance bond, or other financial instrument…

Q: October 1, 2015, GFS borrows $150,000 cash from a bank by signing a three-year installment note…

A: The question has asked to compute the amount of each installment payment, amortization table, and,…

Q: . Interest has not yet been recorded on the notes payable which was taken out on March 1, 2020 with…

A: Please check the step 2 below:-

Q: n April 12, Hong Company agrees to accept a 60-day, 8%, $7,800 note from Indigo Company to extend…

A: Notes payable is debited by $7,800 since notes payable is a liability and a decrease in liability is…

Q: Give typing answer with explanation and conclusion  A promissory note for $7200.00 dated May 15,…

A: Principal value = $7200.00 Compound interest = $740.00 Compound Interest rate = 9.6% compounded…

Q: Please provide an answer as per the possibility

A: To determine the due date and the amount of interest due at maturity for each note, we need to first…