Lakeside Textiles Inc. has a $60,000, 8%, 75-day note receivable dated August 1. What is the maturity value of the note?
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- What is the maturity value of the note on these general accounting question?A company holds a $75,000, 8%, 3-month note receivable, dated August 10. Calculate the maturity value of the note.Valley Designs issued a 90-day, 12% note for $36,000, dated April 15, to Bork Furniture Company on account. Assume 360 days in a year when computing the interest. a. Determine the due date of the note. July 14 V b. Determine the maturity value of the note. $ 36,720 c1. Journalize the entry to record the receipt of the note by Bork Furniture. If an amount box does not require an entry, leave it blank. Notes Receivable v 36,000 Accounts Receivable-Valley Designs 36,000 c2. Journalize the entry to record the receipt of payment of the note at maturity. If an amount box does not require an entry, leave it blank. Cash V 36,720 X Notes Receivable v 36,000 Interest Revenue v 720
- On June 8, Alton Co. issued an $73,184, 9%, 120-day note payable to Seller Co. Assuming a 360-day year for your calculations, what is the maturity value of the note? When required, round your answer to the nearest dollar.Bull City Industries is considering issuing a $100,000, 7% note to a creditor on account. Required: a. If the note is issued with a 45-day term, journalize the entries to record (refer to the company's Chart of Accounts for exact wording of account titles): 1. the issuance of the note. 2. the payment of the note at maturity. Assume a 360-day year. b. If the note is issued with a 90-day term, journalize the entries to record (refer to the company's Chart of Accounts for exact wording of account titles): 1. the issuance of the note. 2. the payment of the payment of the note at maturity. Assume a 360-day year.What is the maturity value of the note on these financial accounting question?
- On June 8, Williams Company issued an $74,068, 8%, 120-day note payable to Brown Industries. Assuming a 360-day year for your calculations, what is the maturity value of the note? When required, round your answer to the nearest dollar. a.$79,993 b.$76,043 c.$74,068 d.$5,925What maturity value of the note?On June 8, Alton Co. issued an $75,537, 7%, 120-day note payable to Seller Co. Assuming a 360-day year for your calculations, what is the maturity value of the note? When required, round your answer to the nearest dollar. Select the correct answer. $5,288$75,537$80,825$77,300
