Question Content Area On June 8, Williams Company issued an $73, 188, 10 %, 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. a. $73,188 b. $7,319 c. $80, 507 d. $75,628
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- Entries for installment note transactions On January 1, 20Y2, Hebron Company issued a 175,000, five-year, 8% installment note to Ventsam Bank. The note requires annual payments of 43,830, beginning on December 31, 20Y2. Journalize the entries to record the following:Notes Receivable On September 1, 2016, Dougherty Corp. accepted a six-month, 7%, $45,000 interest-bearing note from Rozelle Company in payment of an account receivable. Doughertys year-end is December 31. Rozelle paid the note and interest on the due date. Required Who is the maker and who is the payee of the note? What is the maturity date of the note? Prepare all necessary journal entries that Dougherty needs to make in connection with this note.Proceeds from notes payable On January 26, Nyree Co. borrowed cash from Conrad Bank by issuing a 45-day note with a face amount of 150,000. A. Determine the proceeds of the note, assuming the note carries an interest rate of 10%. B. Determine the proceeds of the note, assuming the note is discounted at 10%.
- 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. $2,383Question Content Area On June 8, Williams Company issued an $72,668, 11%, 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. a. $7,993 b. $80,661 c. $72,668 d. $75,332Question Content Area Note receivable Prefix Supply Company received a 120-day, 10% note for $24,000, dated April 12 from a customer on account. Assume 360-days in a year. Question Content Area a. Determine the due date of the note. b. Determine the maturity value of the note.fill in the blank 1 of 1$ Question Content Area 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. blank Account Debit Credit blank - Select - - Select - - Select - - Select - - Select - - Select -
- Instructions First Questions Autumn Designs & Decorators issued a 120-day, 5% note for $82,600, dated April 13 to Zebra Furniture Company on account. a. Determine the due date of the note. Required: a. Determine the due date of the note. b. Determine the maturity value of the note. Assume a 360-day year when calculating interest. Do not round your intermediate calculations and round your final answer to the nearest dollar. c. Journalize the entries to record the following: (1) receipt of the note by Zebra Furniture and (2) receipt of payment of the note at maturity. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. b. Determine the maturity value of the note. Assume a 360-day year when calculating interest. Do not round your intermediate calculations…Question Content Area Assuming a 360-day year, the interest charged by the bank, at the rate of 7%, on a 90-day, discounted note payable of $91,392 is a.$3,199 b.$91,392 c.$6,397 d.$1,599Entries for Notes Receivable Autumn Designs & Decorators issued a 120-day, 6% note for $30,000, dated April 13 to Zebra Furniture Company on account. Assume a 360-day year when calculating interest. Question Content Area a. Determine the due date of the note. b. Determine the maturity value of the note.$fill in the blank 9a5f4f073f8df8f_2 Question Content Area c1. Journalize the entry to record the receipt of the note by Zebra Furniture. If an amount box does not require an entry, leave it blank. blank Notes Receivable Notes Receivable Accounts Receivable-Autumn Designs Decorators Accounts Receivable-Autumn Designs Decorators Question Content Area 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. blank - Select - - Select - - Select - - Select - - Select - - Select -
- Knowledge Check Bramble Supply accepts a $3,000, 120-day, 4% note dated April 10 from Clairmont in settlement of Leonard's overdue open account. What is the maturity date? Determine the interest amount for the three promissory notes. (For notes expressed in terms of days, use a 360-day year. Round your answers to 2 decimal places, e.g. 52.75.) Terms of Note $3,000, 6%, 60 days $1,000,4%, 1 year $4,000, 8%, 6 months $ $ $ InterestEntries for notes payable Bull City Industries is considering issuing a $100,000, 7% note to a creditor on account. Assume a 360-day year. If an amount box does not require an entry, leave it blank. a. If the note is issued with a 45-day term, journalize the entries to record: the issuance of the note. the payment of the note at maturity. 1. fill in the blank a37cc101b03af8c_2 fill in the blank a37cc101b03af8c_3 fill in the blank a37cc101b03af8c_5 fill in the blank a37cc101b03af8c_6 2. fill in the blank a37cc101b03af8c_8 fill in the blank a37cc101b03af8c_9 fill in the blank a37cc101b03af8c_11 fill in the blank a37cc101b03af8c_12 fill in the blank a37cc101b03af8c_14 fill in the blank a37cc101b03af8c_15 b. If the note is issued with a 90-day term, journalize the entries to record: the issuance of the note. the payment of the note at maturity. 1. fill in the blank addbbd064fa6f8c_2 fill in the blank addbbd064fa6f8c_3 fill in…On June 8, Williams Company issued an $70,538, 11%, 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. a. $70,538 b. $73,124 c. $7,759 d. $78,297