Need answer the accounting question On October 1, $10,500 is deposited at at 8% for 60days.What is the due date and the amount of interestdue at maturity?

Step 1: Define What Is The Maturity DateThe Maturity Date for an investment is known to be the…

Answered: On October 1, $10,500 is deposited at…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 24Q: Chemical Enterprises issues a note in the amount of $156,000 to a customer on January 1, 2018. Terms...

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Similar questions

Chemical Enterprises issues a note in the amount of $156,000 to a customer on January 1, 2018. Terms of the note show a maturity date of 36 months, and an annual interest rate of 8%. What is the accumulated interest entry if 9 months have passed since note establishment?
A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an annual interest rate of 11%. If 6 months have passed since note establishment, what would be the recorded interest figure at that time? A. $7,150 B. $65,000 C. $14,300 D. $2,383
What is the due date of a $12,000 90-day, 8% note receivable dated August 5?
Determine the number of months (rounded off to the nearest month) required for a deposit of $2968.84 to earn a $216.72 interest at 7.57%.
What is the Effective Annual Rate (EAR) on a deposit account with a stated Annual Percentage Rate (APR) of 10.6% and monthly compounding? Enter your answer as a percentage rounded to 2 decimal places
If the note has been outstanding 3 months, what is the annual interest rate on that note? Interest Expense: 511 Note Payable: 4700
What is the future value on December 31, Year 5, of a deposit of $10,000 made on January 1, Year 2, assuming interest of 16% compounded quarterly?
What is the future value on December 31, Year 5, of a deposit of $25,000 made on January 1, Year 2, assuming interest of 12% compounded semiannually?
Determine the interest rate earned on a $1,500 deposit when $1,680 is paid back in one year.
Determine the due date and the amount of interest due at maturity on the following notes. When calculating interest amounts, assume there are 360 days in a year. Round intermediate calculations to 4 decimal places, and round your final answers to the nearest whole dollar. Date of Note Face Amount Interest Rate Term of Note a. January 15 $49,185 13 % 30 days b. April 1 18,045 11 90 days C. June 22 12,325 8 45 days d. August 30 18,975 12 120 days e. October 16 11,660 9 50 days Interest Due at Due Date Maturity a. b. نف C. d. e.
What is the number of months required for a deposit of $1320 to earn $16.50 interest at 3.75%?
Suppose on January 1st you deposit $100 in an account that pays a nominal interest rate of 11.33463% with interest added (compounded) daily. How much will you have in your account on October 1st or 9 months later?

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On October 1, $10,500 is deposited at at 8% for 60 days. What is the due date and the amount of interest due at maturity?