he company has a ₱54,783 10% 120-day Notes Receivable dated September 30, 2020. On maturity date, the company is expecting to receive cash amounting to how much?
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The company has a ₱54,783 10% 120-day Notes Receivable dated September 30, 2020. On maturity date, the company is expecting to receive cash amounting to how much?
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- 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?Can the 10,000 note be repaid on May 1? Explain.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
- Frame company has an 8% note receivable dated June 30, 2021, in the original amount of P1,500,000. Payments of P500,000 in principal plus accrued interest are due annually on July 1, 2022, 2023 and 2024. What is the balance of note receivable on July 1, 2022?On june 30,2023, what amount should be reported as accrued interest receivable on the note receivable? Hook Inc. accepts on April 1, 2022 a 120-day 12% note for $8,000 worth of accounts receivable past due. Calculate the amount of cash Hook should collect on the note at maturity.TAEHYUNG Company reported a total cash and cash equivalent of P6,500,000 on December 31, 2019, which includes the following information: Two certificates of deposit, each totaling P600,000. These certificates of deposit have a maturity of 120 days A check that is dated January 12, 2020 in the amount of P150,000 A commercial paper of P2,500,000 which is due in 120 days Currency and coins on hand amounted to P10,500 TAEHYUNG Company has agreed to maintain a cash balance of P500,000 in one of its banks at all times and it is not available for withdrawal and to ensure future credit availability (this amount was included in the above balance). How much is the correct amount of cash and cash equivalents that TAEHYUNG Company should report in its December 31, 2019 statement of financial position?
- On January 1, 2021, Mahogany Company issued a note with a face amount of P2,000,000. The note carried an interest rate of 10% payable every yearend for three years. The market rate of interest on similar notes is 12.5%. How much is the interest expense for 2022?On January 1, 2021, Mahogany Company issued a note with a face amount of P2,000,000. The note carried an interest rate of 10% payable every yearend for three years. The market rate of interest on similar notes is 12.5%. How much is the carrying amount of the note on December 31, 2021?On January 1, 2021, Mahogany Company issued a note with a face amount of P2,000,000. The note carried an interest rate of 10% payable every yearend for three years. The market rate of interest on similar notes is 12.5%. How much is the interest expense for 2022 and carrying amount of the note on December 31, 2021
- A 6%, 110-days note dated 31 August 2019 has a maturity value of RM4,073.33. On 12th October 2019, the note is discounted and the proceeds received are RM4,019.47. Find: The face value of the note The bank discount rate that is charged when the note is discounted.White Hot Chocolate Company had a 12% note receivable dated June 30, 2020 in the original amount of P3,000,000. Payments of P1,000,000 in principal plus accrued interest are due annually on July 1, 2021, 2022 and 2023. In its June 30, 2021 balance sheet, what amount should White Hot Chocolate report as accrued interest on notes receivable?A promissory note with a face value of $12,300 is written on February 22, 2015 and is due on June 03, 2022; it bears an interest rate of 11.5% compounded quarterly. The note is sold on January 04, 2021 to a bank that discounts notes at a compound interest rate of 4.5% compounded quarterly. Determine the maturity value of the note. Include a time diagram. Determine the amount that the bank paid for the note. Include a time diagram.
