Please need answer the general accounting question without use Ai and chatgpt Complete the following table by computing the missing amounts for the followingindependent cases.PrincipalReceivableAmount on Note AnnualInterest TimeInterestRatePeriodEarneda. $120,00010.8%6 months$6,480b. $54,000?9 months$3,888C. ?10.4%12 months$4,576

Step 1: Define Interest on Note ReceivableThe note receivable is a current asset held by a firm…

Answered: Complete the following table by…

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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Calculate the missing information on the revolving credit account. Interest is calculated on the unpaid or previous month's balance. PreviousBalance AnnualPercentageRate (APR) MonthlyPeriodicRate(as a %) FinanceCharge(in $) Purchasesand CashAdvances PaymentsandCredits NewBalance(in $) $45.00 12% % $ $176.20 $55.00 $
A year end review of Accounts Receivable and estimated uncollectible percentages revealed the following: attached in ss below thankas gwroiwrnio
PreviousBalance AnnualPercentageRate (APR)(as a %) MonthlyPeriodicRate FinanceCharge(in $) Purchasesand CashAdvances PaymentsandCredits NewBalance(in $) $2,490.00 % 1 1 4 % $ $1,374.98 $300.00 $
Complete the following without using Table 12.1. Principal $575, Time 1 year, Rate 4%, Compounded quarterly. What is the periods?
1. A year-end review of Accounts Receivable and estimated uncollectible percentages revealed the following: Days Outstanding Accounts Receivable Est. Percent Uncollectiable 1-30 days $62,000 2% 31-60 days $42,000 5% 61-90 days $25,000 11% Over 90 days $7,000 52% Before the year-end adjustment, the credit balance in Allowance for Uncollectible Accounts was $1,000. Under the aging-of-receivables method, the Uncollectible - Account Expense at year-end is: A. $10,730 B. $8,730 C. $9,730 D. $1,240 Please show all steps. Thanks
Calculate the missing information on the revolving credit account. Interest is calculated on the unpaid or previous month's balance. (Round dollars to the nearest cent.) PreviousBalance AnnualPercentageRate (APR) MonthlyPeriodicRate(as a %) FinanceCharge(in $) Purchasesand CashAdvances PaymentsandCredits NewBalance(in $) $1,025.61 % 1% $ $322.20 $400.00 $
The balance sheet of Omni, Inc., at the end of last year included the following EXERCISE 8-5 Write-Offs and Recoverles items: Notes receivable from cusfomers Accrued Interest on notes receivable. .. . . A .... . $ 540,000 10,600 Accounts recelvable Less: Allowance for dɔubtful accountS .... ... . .. . c 2,268,000 54,000 uSTRUCTIONS You are to record the following events of the current year in general journal en- tries: a Accounts receivable of $51,840 are vritten off as uncollectible. b A customner's note for $14,850, on which interest of $810 has been accrued in the accounts, is deemed uncollectible, and both balances are written off against the Allowance for Doubtful Acçounts. c An account receivable for $7,020 previously written off is collected. d Aging of accounts receivable at the end of the current year indicates a need for an $81,000 allowance to cover possible £ailure to collect accounts currently out- standing. (Consider the effect of entries for a, b, and e on the amount of…
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2 A year end review of Accounts Receivable and estimated uncollectible percentages revealed the following: Accounts Est. Percent Days Outstanding 1-30 days Receivable Uncollectible $62,000 2% 31-60 days $40,000 4% 61-90 days Over 90 days $23,000 11% $9,000 50% Before the year-end adjustment, the credit balance in Allowance for Uncollectible Accounts was $1,000. Under the aging-of-receivables method, the Uncollectible-Account Expense at year-end is: A) $10,870 B) $8,870 C) $1,240 D) $9,870
ll.

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Complete the following table by computing the missing amounts for the following independent cases. Principal Receivable Amount on Note Annual Interest Time Interest Rate Period Earned a. $120,000 10.8% 6 months $6,480 b. $54,000 ? 9 months $3,888 C. ? 10.4% 12 months $4,576