I want to correct answer Your company accepted a 120-day, 6% note for $189,000from Winter Company on account. On the maturity date,Winter Company still cannot pay, so you accept a new a60-day, 10% note for the full amount due (principal andinterest). How much cash will you receive if WinterCompany pays you in full on the maturity date of thesecond note?

Detailed explanation:When dealing with this type of financial dilemma, I always start by breaking it…

Answered: Your company accepted a 120-day, 6%…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 36P

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A customer was unable to pay the accounts receivable on time in the amount of $34,000. The customer was able to negotiate with the company and transferred the accounts receivable into a note that includes interest, along with an up-front cash payment of $6,000. The note maturity date is 24 months with a 15% annual interest rate. What is the entry to recognize this transfer?
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Answer? ? General Accounting question
One of your customers is delinquent on his accounts payable balance. You've mutally agreed to a repayment schedule of $520 per month. You will charge .92 percetn per month interest on the overdue balance. If the current balance is $14740, how long will it take for teh account to be paid off?
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One of your customers is delinquent on his accounts payable balance. You've mutually agreed to a repayment schedule of $640 per month. You will charge 1.04 percent per month interest on the overdue balance. If the current balance is $14,860, how long will it take for the account to be paid off? Note: Do not round intermediate calcula
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Can you please give me correct answer this general accounting question?
On August 31, 2021, XYZ Company received a 9%, nine-month note receivable from Hugo Company, one of ABC Company’s problem credit customers. Hugo Company had owed $360,000 on an outstanding account receivable. The note receivable was taken in settlement of this amount. Assume that XYZ Company makes adjusting entries once a year on December 31. On maturity date, how much cash will XYZ Company receive from Hugo Company?
None
X Corporation accepted a P400,000 face value, six-month, 10% note dated May 15 from a customer. On that same date, X Corporation discounted the note at Metrobank at a 12% discount rate. 1. How much should X Corporation receive from the bank on May 15? 2. Assume that X Corporation discounted the note four months prior to its maturity date, what is the proceeds from discounting the note?
Kylah Enterprises signs a 3-month, noninterest-bearing note with a stated rate of 13.5% and a maturity value of $215,000? What is the cash proceeds available to the borrower? (Round your answer to 2 decimal places.)

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