On December 1, Victoria Company signed a 90-day, 4% note payable, with a face value of $12,600. What amount of interest expense is accrued at December 31 on the note? (Use 360 days a year.) Multiple Choice $504 $84 $0 $126 $42
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- On June 8, Williams Company issued an $75,972, 6%, 120-day note payable to Brown Industries. Assuming a 360-day year, what is the maturity value of the note? When required, round your answer to the nearest dollar. Oa. $75,972 Ob. $77,491 Oc. $80,530 Od. $4,558 > Other fav tOn June 8, Williams Company issued an $75,972, 6%, 120-day note payable to Brown Industries. Assuming a 360-day year, what is the maturity value of the note? When Ⓒ required, round your answer to the nearest dollar. O a. $75,972 Ob. $77,491 Oc. $80,530 Od. $4,558 NextOn November 1, Alan Company signed a 120-day, 8% note payable, with a face value of $21,600. What is the maturity value (principal plus interest) of the note on March 1? (Use 360 days a year.) Multiple Choice $21,888 $21,984 $22,176 $21,600 $21,792
- Multiple choice: 62. A hospitality company is the maker of an $18,000 note to be paid in quarterlyinstallments of $3,000 each. The first payment is to be made on June 30. How willthe note be represented on the balance sheet for May 31?A. $18,000 long-term liabilityB. $3,000 expense, $15,000 long-term liabilityC. $3,000 expense, $9,000 current liability, $6,000 long-term liabilityD. $12,000 current liability, $6,000 long-term liabilityA company issued a 60 day 11% note for $17,000. What is the principal amount of the note? Round your answer to the nearest dollar. A) $16,688 B) $17,000 C) $18,870 D) $17,312 On June 8, Williams Company issued an $91,200, 11%, 120-day note payable to Brown Industries. Assuming a 360-day year, what is the maturity value of the note? Round your answer to the nearest whole dollar. Oa. $10,032 Ob. $94,544 Oc. $101,232 Od. $91,200
- Close Norwood, Inc, signs a $10,500, 9%, six - month note dated November 1, 2018. The interest expense recorded for this note in 2018 will be (Do not round any intermediate calculations, and round your final answer to the nearest dollar.) OA $315 OB. $945 Xc. $473 D. $158Cube Ice Company received a 120-day, 10% note for $96,000, dated April 9 from a customer on account. Assume 360 days in a year. a. Determine the due date of the note. b. Determine the maturity value of the note.$fill in the blank f3b771fe205d07f_2 c. Journalize the entry to record the receipt of the payment of the note at maturity. If an amount box does not require an entry, leave it blank. Accounts Receivable Cash Interest Receivable Interest Revenue Notes Receivable Unearned Interest Aug. 7 fill in the blank 332b64fd401df83_2 fill in the blank 332b64fd401df83_3 fill in the blank 332b64fd401df83_5 fill in the blank 332b64fd401df83_6 fill in the blank 332b64fd401df83_8 fill in the blank 332b64fd401df83_9A 60-day, 6% note for $26,400, dated May 1, is received from a customer on account. The maturity value of the note, assuming a 360- day year, is A.$264 Ob. $26,664 Oc. $26,400 Od. $27,984
- On April 1, 20X1, Nelsen Inc. accepts a $100,000, 8% note. The note receivable and interest are due on March 31, 20X2 (one year later). On March 31, 20X2, Nelson Inc. will record interest revenue of: $2,000. $8,000. $6,000. $0.TORR, Inc. issues a $300,000, 6%, five-year note payable on January 1, 20X1. If the monthly payment is $5,800, what is the note's carrying value after the first month's payment is made on January 31, 20X1? Select one: a. $294,200 b. $300,000 c. $298,500 d. $295,700 e. $298,214On July 1, 20X1, ABC Corp received a P450,000 10% 3-year note from a customer. The principal and interest of the note is collectible in 3 equal payments every June 30, starting June 30, 20X2. How much is the Interest Receivable at Dec 31, 20X1? 22,500 45,000 135,000 0