Determine the interest and due dates on notes Cora Company had the following notes this year: Date of Note Face Amount Interest Rate Term of Note Due Date Interest Due a. April 24 $70,000 3% 90 days b. July 13 30,000 4% 60 days c. August 9 40,000 5% 120 days Required Determine the due dates and interest due for each of the notes by completing the schedule above.
Determine the interest and due dates on notes Cora Company had the following notes this year: Date of Note Face Amount Interest Rate Term of Note Due Date Interest Due a. April 24 $70,000 3% 90 days b. July 13 30,000 4% 60 days c. August 9 40,000 5% 120 days Required Determine the due dates and interest due for each of the notes by completing the schedule above.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
| Determine the interest and due dates on notes | ||||||||
| Cora Company had the following notes this year: | ||||||||
| Date of Note | Face Amount | Interest Rate | Term of Note | Due Date | Interest Due | |||
| a. | April 24 | $70,000 | 3% | 90 days | ||||
| b. | July 13 | 30,000 | 4% | 60 days | ||||
| c. | August 9 | 40,000 | 5% | 120 days | ||||
| Required | ||||||||
| Determine the due dates and interest due for each of the notes by completing the schedule above. |
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