Determine the amount of interest payable on a $1950 four-month note issued on Sep 15 with interest at 4.5% per annum. $29.25 $24.64 $32.75 $25.63
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- Jain Enterprises honors a short-term note payable. Principal on the note is $425,000, with an annual interest rate of 3.5%, due in 6 months. What journal entry is created when Jain honors the note?Entries for installment note transactions On January 1, 20Y2, Hebron Company issued a 175,000, five-year, 8% installment note to Ventsam Bank. The note requires annual payments of 43,830, beginning on December 31, 20Y2. Journalize the entries to record the following:Calculate the amount of interest to be charged on a $12,000, 8.5%, 90-day interest-bearing note.
- The interest on a $27000, 15%, 1-year note receivable is $31050. $228. $270. $4050.The interest on a $3,000, 10%, 180-day note receivable is (assume 360 days per year) O $150 O $3.300 O $300 $3000 Onmi ERCO DUTOAssuming a 360-day year, when a $11,918, 90-day, 10% interest-bearing note payable matures, total payment will be a.$13,110 b.$1,192 c.$298 d.$12,216
- Assuming a 360-day year, the interest charged by the bank, at the rate of 7%, on a 90-day, discounted note payable of $115,133 is a. $115,133 b. $8,059 c. $4,030 d. $2,015Question 6: A 21-month $6,779.99 promissory note bearing interest of 7.5% compounded monthly was sold on its date of issue to a finance company at a discount rate of 9.9% compounded monthly. Determine the proceeds of the sale.Assuming a 360-day year, when a $17,100, 90-day, 8% interest-bearing note payable matures, total payment will be Round your answer to the nearest whole dollar. a.$342 b.$17,442 c.$18,468 d.$1,368
- Assuming a 360-day year, the interest charged by the bank, at the rate of 8%, on a 90-day, discounted note payable of $105,987 is a.$4,240 b.$8,479 c.$2,120 d.$105,987Assuming a 360-day year, when a $11,200, 90-day, 5% interest-bearing note payable matures, the total payment will be Oa. $560 Ob. $140 Oc. $11,760 Od. $11,340 0 0 0 0What is the amount of total interest earned on a note receivable based on the following information: Principal 25,000 Annual Interest Rate 4.00% Term (in days) 90