Use ordinary interest: Principal Rate of Interest Time Maturity Value Date Note Made Date Note Discounted Discount Period Proceeds $18,000 8% 120 days A June 9 September 6
Use ordinary interest: Principal Rate of Interest Time Maturity Value Date Note Made Date Note Discounted Discount Period Proceeds $18,000 8% 120 days A June 9 September 6
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
ChapterD: Notes Payable And Notes Receivable
Section: Chapter Questions
Problem 1P: Part A: Calculate the interest on the following notes: Part B: Determine the maturity dates on the...
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Question
Use ordinary interest:
Principal |
Rate of Interest |
Time |
Maturity Value |
Date Note Made |
Date Note Discounted |
Discount Period |
Proceeds |
$18,000 |
8% |
120 days |
A |
June 9 |
September 6 |
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