General Accounting Determine the due date and the amount ofinterest due at maturity on the following note.Date of noteFace amount Interest rate Term of note60 daysNovember 20 $27,0004%

Step 1:- Introduction to the Notes PayableA business can track how much it owes and when payments…

Answered: Determine the due date and the amount…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 22MC: A company collects an honored note with a maturity date of 24 months from establishment, a 10%...

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Determine the due date and amount of interest due at maturity on the following notes Origination Face amount Tern of Note Interest rate Maturity Interest Date a Mar 15 8,000 60days 9%
Compute the maturity date and interest for the following notes.( use 360 days for calculation) Dates of notes Terms Principal Interest Rate a. April 17 45 days 48,000 3% b. August 11 2 months 72,000. 7% Maturity date. Interest a. ? $? b. ? $?
The maturity value of a $586000, 168-day, 7.3% note receivable is (two decimals): Add your answer
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Interest on note: $1,137.50interest rate: 10%Note dated: 3/17/2024Note due date: 10/13/2024Days in year (ordinary interest) 3601.What is the term of the loan (in days)?2. What is the principal in on the note?
Maturity Dates of Notes Receivable Determine the maturity date and compute the interest for each of the following notes: (Use 360 days for interest calculation. Round to the nearest dollar.) Date ofNote Principal InterestRate Term a. August 5 $6,000 8% 190 days b. May 10 16,800 7% 160 days c. October 20 24,000 9% 115 days d. July 06 4,500 10% 130 days e. September 15 9,000 8% 145 days Maturity Date Month Day Interest a. Answer Answer Answer b. Answer Answer Answer c. Answer Answer Answer d. Answer Answer Answer e. Answer Answer Answer PreviousSave AnswersFinish attempt ...
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]]
Given the annual interest rate and a line of an amortization schedule for that loan, complete the next line of the schedule. Assume that payments are made monthly. Annual Interest Paid on Interest Rate Payment Paid Principal Balance 11.6% $425.57 $64.23 $361.34 $6,280.78 Fill out the amortization schedule below. Annual Interest Paid on Payment Balance Interest Rate Paid Principal 11.6% $425.57 $64.23 $361.34 $6,280.78 (Round to the nearest cent as needed.)
The maturity value of a $491000, 76-day, 7.5% note receivable is (two decimals):
For an interest-bearing promissory notes, compute the sale proceeds, when the issue amount is $18,200, term of the note is 4 1/2 years with interest rate 9.45% compounded monthly, the date of sale before maturity is 1.7 years with a discount rate 15% compounded quarterly. Select one: O a. 21634.97 Ob. 21642.76 O c. 21580.47 d. none
Use ordinary interest: (Round your "Proceeds" answer to the nearest cent.) Principal Rate of Interest Time Maturity Value Date Note Made Date Note Discounted Disount Period Proceeds $18,000 8% 120 days Jun 09 Sept 6 _____days Note to be discounted at 10%
Use chart and round to nearest cent

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Determine the due date and the amount of interest due at maturity on the following note. Date of note Face amount Interest rate Term of note 60 days November 20 $27,000 4%