Instructions: Fill in the missing information. 1. Missing Dates: Encode the date in this format: mm/dd 2. Monetary values: Round-off the monetary figures to two decimal places Use 360 days=1 year in computing for interest Principal Interest Rate Date of Note Term Maturity Date Maturity Value Date of Discounting Discount Period Discount Rate Disount 55,000 13.50% 06/17 69 days ? ? 07/22 (?) days 13.70% ? Net proceeds Accrued Interest Carrying Amount Gain/Loss on Discounting ? ? ? ? Thank you for helping me.
Bad Debts
At the end of the accounting period, a financial statement is prepared by every company, then at that time while preparing the financial statement, the company determines among its total receivable amount how much portion of receivables is collected by the company during that accounting period.
Accounts Receivable
The word “account receivable” means the payment is yet to be made for the work that is already done. Generally, each and every business sells its goods and services either in cash or in credit. So, when the goods are sold on credit account receivable arise which means the company is going to get the payment from its customer to whom the goods are sold on credit. Usually, the credit period may be for a very short period of time and in some rare cases it takes a year.
Instructions:
Fill in the missing information.
1. Missing Dates: Encode the date in this format: mm/dd
2. Monetary values: Round-off the monetary figures to two decimal places
Use 360 days=1 year in computing for interest
Principal | Interest Rate | Date of Note | Term | Maturity Date | Maturity Value | Date of Discounting | Discount Period | Discount Rate | Disount |
55,000 | 13.50% | 06/17 | 69 days | ? | ? | 07/22 | (?) days | 13.70% | ? |
Net proceeds | Accrued Interest | Carrying Amount | Gain/Loss on Discounting |
? | ? | ? | ? |
Thank you for helping me.
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