Analyze the following: A $10,000 60 day interest bearing note was issued for cash on June 30 at a rate of 12%. Indicate the: Issue Date | Maturity Date Face Amount Interest Amount | Maturity Amount Journalize the issue date and maturity date transactions: Date Description Post Debit Credit ref 1 1 2 3 3 4 4 5 5 6 6 7 7 8. 8

Analyze the following: A $10,000 60 day interest bearing note was issued for cash on June 30 at a rate of 12%. Indicate the: Issue Date | Maturity Date Face Amount Interest Amount | Maturity Amount Journalize the issue date and maturity date transactions: Date Description Post Debit Credit ref 1 1 2 3 3 4 4 5 5 6 6 7 7 8. 8

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Maturity Dates of Notes Receivable Determine the maturity date and compute the interest for each of the following notes: (Round to the nearest dollar.)\table[[,\table[[Date of], [Note]], Interest,], [a., August 5, $12,000,9%, 120 days], [b., May 10, 33,600,7%, 90 days ], [c., October 20, 48,000, 12%, 45 days], [d., July 16,9,000, 10%, 60 days], [e., September 15, 19,000,7%,75 days]]
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