Provide correct solution A six-year note for $1,750 issued onDecember 1, 2012, with interest at 6.5%compounded quarterly, is discountedon July 1, 2015, at 7% compoundedsemi-annually. How much is thematurity value of the note? What arethe proceeds of the note on July 1, 2015?

The problem involves a $1,750 note issued on December 1, 2012, with a 6.5% interest rate compounded…

Answered: A six-year note for $1,750 issued on…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 24Q: Chemical Enterprises issues a note in the amount of $156,000 to a customer on January 1, 2018. Terms...

See similar textbooks

Similar questions

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 payable
a seven-year note for $2800.00 issued on october 1,2015, with interest at 5.7% compounded annually is discounted on june 1,2021, at 8.8% compounded quarterly. what are the proceeds of the note?
A nine-year note for $3200 issued on October 1, 2015, with interest at 6.6% compounded annually is discounted on July 1, 2016, at 9.1% compounded semi-annually. What are the proceeds of the note? The proceeds of the note are $. (Round to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
1) A non-interest bearing eight year note for $5000 issued August 1, 2008 is discounted April 1, 2011 at 6.5% compounded semi-annually. Find the compound discount. Give typing answer with explanation and conclusion
On March 1, 2024, Lewis Services issued a 10% long - term notes payable for $24,000. It is payable over a 6– year term in $4000 principal installments on March 1 of each year, beginning March 1, 2025. Which of the following entries needs to be made on March 1, 2024? O A. Current Portion of Long - Term Notes Payable Long- Term Notes Payable 24,000 24,000 O B. Long - Term Notes Payable Accounts Payable 24,000 24,000 O C. Long - Term Notes Payable 4000 Cash 4000 O D. Cash 24,000 Long - Term Notes Payable 24,000
A note dated May 1, 2011 promises the payment of $5660.00 with interest at 659% pa. compounded semi-annually on November 1, 2015. Find the proceeds of the sale of the note on May 1, 2013 if money was then worth 7 29% pa compounded monthly. O $6307.94 O $6207.94 O S6107.94 $5907.94
On July 1, 2021, ABC Co. borrowed P1,000,000 and issued a one-year note payable. The lenderdiscounted the note at 12%.Prepare all the necessary journal entries under the following scenarios:a. The note is due on lump sum on June 30, 2022. The effect of discounting is immaterial.b. The note is due in equal quarterly installments starting September 20, 2021
Godo
Sammy Company, a calendar-year company, has a 6% note receivable dated November 1, 2020 in the original amount of P3,000,000. Payments of P1,000,000 in principal plus interest on the outstanding balance are due annually on October 31, 2021, 2022 and 2023. How much is the interest revenue from the note for the year ended December 31, 2021?
An $9,000 note dated 06/22/2020, matures on 12/22/2020 at 8.15%. (Banker’s Rule) In how many days is the note due? What interest is paid on the note?
An seven-year promissory note for $31 000 dated May 2, 2002, bearing interest at 8% compounded quarterly, is discounted on September 2, 2005, at 8.5% compounded semi-annually. Determine the proceeds of the note. write calculator step
A $12,000 non-interest-bearing promissory note is discounted at 6% compounded monthly, three years before maturity. What are the proceeds from the sale of the note?

SEE MORE QUESTIONS

Recommended textbooks for you

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

Financial Accounting

Accounting

ISBN:

9781305088436

Author:

Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:

Cengage Learning

EBK CONTEMPORARY FINANCIAL MANAGEMENT

Finance

ISBN:

9781337514835

Author:

MOYER

Publisher:

CENGAGE LEARNING - CONSIGNMENT

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

Financial Accounting

Accounting

ISBN:

9781305088436

Author:

Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:

Cengage Learning

EBK CONTEMPORARY FINANCIAL MANAGEMENT

Finance

ISBN:

9781337514835

Author:

MOYER

Publisher:

CENGAGE LEARNING - CONSIGNMENT

CONCEPTS IN FED.TAX., 2020-W/ACCESS

Accounting

ISBN:

9780357110362

Author:

Murphy

Publisher:

CENGAGE L

SEE MORE TEXTBOOKS

A six-year note for $1,750 issued on December 1, 2012, with interest at 6.5% compounded quarterly, is discounted on July 1, 2015, at 7% compounded semi-annually. How much is the maturity value of the note? What are the proceeds of the note on July 1, 2015?