On November 22, 2017, Toys Or More borrowed money with a promise to pay $21,610.14 on September 18, 2018. This loan included interest at 6.3%. How much money did Toys Or More bomow on November 22, 20177

Q: Sylvestor Systems borrows $161,000 cash on May 15, 2017, by signing a 30-day, 5% note.   1. On what…

A: Promissory note is an instrument issued by the borrower to lender for the money payable after the…

Q: Romeo started an RRSP on March 1, 2016, with a deposit of $35 000.00. She added $19 000.00 on…

A: Future value = Present value x (1+i)^twherePresent value = amount depositedi = Periodic interest…

Q: Alfred Company lends $40,000 with 9% interest to a customer on August 1, 2015, in exchange for a…

A: Interest revenue is credited for $1,500.

Q: If $5,000 is borrowed at a simple interest rate of 5.65% p.a., calculate the interest charged for 6…

A: the amount of interest Marissa should receive is $356.35.Explanation:For the first question:Interest…

Q: lingerland borrowed $6,000 on July 20, at 11% interest. If the loan was due on October 15, what was…

A: given, p= $6000 r = 11% n = 87 ( july 20 - oct 15)

Q: A $40,000 loan at 4% dated June 10 is due to be paid on October 11. The amount of interest is…

A: Loan amount (P) = $40000 Interest rate (r) = 4% Period from June 10 to Oct 11 (d) = 123 Days

Q: What amount of the payment made on January 1, 2022 will be interest expense?

A: Amount Borrowed = $360000 Interest Rate = 4% Fixed Annual Payment = $32379 Interest to be paid on…

Q: A note dated May 1, 2011 promises the payment of $5660 00 wath interest at 6 5% pa. compounded…

A: Given Information:A note worth $5660 issued on 2011, may 1st at 6.5% interest compounded…

Q: Rice Inc. issued a 120-day note in the amount of $150,000 on October 31, 2013 with an annual rate of…

A: NOTES PAYABLENotes payable are reported under the liabilities section of the balance sheet. Notes…

Q: Ludwig borrowed $8,000 on July 20, at 11% interest. If the loan was due on October 17, what was the…

A: Step 1 A percentage of the principal, or the amount loaned, is what a lender charges a borrower as…

Q: On May 1, 2020, Zachary Corporation borrowed $2,500 on a two-year, 6% note payable. Interest is due…

A: The company borrowed amount on the dated May 1, 2020. Interest will be payable after six months.…

Q: 1. CJ, Inc. issued a promissory note to AJ, Inc. in the amount of $400,000 on January 1, 2014, the…

A: Journal entry records the accounting transactions of a business in a journal book. All the business…

Q: What price did the finance company pay for the promissory note?  What rate of interest did the…

A: Formula: For price, the finance company pay for the promissory note S= P(1+rt)P= S(1-dt) Rate of…

Q: Cars Inc. issued 120 day note in the amount of $360,000 on November 1, 2016 with an annual rate of…

A: Solution: Amount of interest accrued as of Dec 31, 2016 = Amount of note * Interest rate * Period…

Q: the journal entries for 2015.

A: Interest Payment Principal Balance * Quarterly Interest RateThe quarterly interest rate is  is…

Q: October 1, 2015, GFS borrows $150,000 cash from a bank by signing a three-year installment note…

A: The question has asked to compute the amount of each installment payment, amortization table, and,…

Q: 16. On October 1, 2020, Zachary's Balloons borrowed $4,000 on a 12%, one-year note payable. Interest…

A: Semiannual Interest = $4,000 * 12% * 6/12 Semiannual Interest = $240

Q: Keesha Co. borrows $200,000 cash on November 1, 2017, by signing a 90-day, 9% note with a face value…

A: Notes are a form of debt taken by the company, on which business has to pay interest payments. This…

Q: Oriole Company borrowed $860,000 on December 31, 2019, by issuing an $860,000, 8% mortgage note…

A: A mortgage is a promissory note secured by an asset whose title is pledged to the lender. It is a…

Q: On April 1, 2021, the Electronic Superstore borrows $21 million of which $7 million is due in 2022.…

A:

Q: Compute the amount of interest on $8350 at 6.5% p.a. from October 8, 2019, to August 4, 2020.

A: As per Bartleby honor code, when multiple questions are asked, the expert is required only to solve…

Q: Joshua borrowed $500 on January 1, 2021, and paid $30 in interest. The bank charged him a service…

A: To calculate the Annual Percentage Rate (APR), we need to consider the total interest paid and any…