What is the amount of each monthly payment? tables provided

Q: What is the formula for calculating interest on a note receivable?

A: Introduction:- A note receivable is a written promissory note to receive a specified amount of cash…

Q: The journal entry to record the payment of the monthly rent would include:

A: As per accounting rule, all expenses account will be debited and all asset account like Cash will be…

Q: Simple interest applies when interest is earned _____________. a. on interest b. in a serious of…

A: Interest is the value provided or paid for the sum borrowed. If the company has made certain…

Q: What is the due date of a 220 day loan made on February 12?

A: Due Date: It represents the day when the accruals on the loan fall due. Another name for the due…

Q: Beginning balance + interest charged+purchases- minimum payment Ending balance The ending balance…

A: Beginning balance = 656 Yearly interest = 24 % Monthly interest = 2 % i.e, ( 656 x 2 % = 13.12 )…

Q: In the payment term 5/10, n/30, the number '10’ represents _________________.

A: The credit term 5/10, n30 means if the debtor has paid the amount within 10 days, then he could…

Q: how do you do the math the get the percentage/decimal numbers

A: Income statement is the statement in which figures relating to entity performance is incorporated…

Q: Use this table for calculations: Minimum Days Maximum days % uncollectible 1 30 1.5% 31 60 3.5% 61…

A: Accounts receivable are the amounts owed by the customers to the firm against goods or services they…

Q: Define Prepaid rent.

A: Prepaid Expense:   It refers to the expenditure incurred by company that is paid in one accounting…

Q: a payment such as an utility bill (like electricity) for the month would include?

A: In this transaction, cash is paid for monthly utility bill. Utility bill is an expense,…

Q: What does the days’ sales in receivables indicate, and how is it calculated?

A: Day's Sales: Day's sales refer to the average number of days for which a receivable remain…

Q: This is the payment method used for setting up automatic monthly payments such as utility bills and…

A: A monthly payment refers to a regular, fixed amount of money that is paid on a monthly basis.

Q: What do you mean by Days Payable Outstanding (DPO)?

A: Definition:   Accounts payable: This is the amount owed for the suppliers, or expenses incurred.…

Q: Question  The average collection period is the average amount of time that elapses from a credit…

A: Average Collection Period Average collection period is time allowed by the company to its debtors…

Q: Journalize the entry to record the payment of the second installment the following June 30

A: Interest is charges on the maximum balance payable. Interest = Principle Outstanding x rate of…

Q: Compute the day's sales in receivables ratios for 2020 and 2019 ( hold all decimals in interim…

A: solution-                                                                              Days in sales…

Q: How to calculate the notes payable

A: Notes payable are long-term liabilities that indicate the money a company owes its financiers—banks…

Q: How to calculate monthly interest and apr

A: Wall unit cost = $2200 Down payment = $800 Monthly payment = $43.50 Period of loan = 48 months

Q: Accounts payable turnover days (Use 365 days. Round your answer to nearest whole number.)

A: Cost of good sold=3865.20Account payable=$442 and $461.50Assume=365 days

Q: A payment of $650 to a creditor will cause

A: When the payment is made to creditors then liabilities is reduced so it should be debited and…

Q: Do I take the monthly payment and add the interest then divide it to find the total payments? And do…

A: The monthly payments amount of $828.85 that has been computed here will be constant over the next 30…

Q: What is the double entry to record my payments to a rotating savings arrangement weekly? What is…

A: Double entry is one of the method of bookkeeping which states that each monetary transaction has…

Q: Explain the difference between an ordinary annuity and an annuity due.

A:

Q: PLEASE SHOW ALL WORK For terms of 8/10, n/60 determine the annual rate you, in effect, pay the…

A: Credit terms = 8/10 , n/60 means if payment is made within 10 days then supplier will offer 8%…

Q: find the average daily balance

A: The method which takes daily balances into consideration rather than weekly or monthly balances is…

Q: What payment should be made on an invoice for $500 dated November 16, carrying terms 4/10, net 30?

A: A commercial document which is used to record the transactions between the buyer and the seller is…

Q: What is the formula to compute interest on a note receivable?

A: Note receivable: Note receivable refers to a written promise for the amounts to be received within a…

Q: 5. Determine the number of days of the loan. Loan Date Due Date Number of Days March 8 July 22

A: Loan date = March 8 Due date = July 22

Q: Then, prepare the journal entry assuming the payment is made within 10 days (the discount period).

A: Formula: Net sales = Sales - discount where, Discount = Sales x discount rate

Q: Notes receivable due in 90 days appear on what?

A: Note receivable is the asset for the company. If note receivable is to be received within a year, it…