NOTE DATED 11/24/2021 DUE IN 156 DAYS, FACE OF THE NOTE IS $75,000, INTEREST RATE IS 9 4% CALCULATE THE FOLLOWING THE DUE DATE THE INTEREST AMOUNT (PXRXT) MATURITY VALUE (face amount plus the interest amount)
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- 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%.FAST PLZ On 1st July 2020 Star LLC has accepted a note receivable for RO 2000 from one of the accounts receivables. The maturity period is 6 months. The interest rate is 10%. The amount of interest to be recorded in account on 31 December will be. a. RO 400 b. RO 300 c. RO 200 d. RO 100Question 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. $75,332
- On January 1, 2022, Ace Company finished landscaping services and accepted in exchange a 10% $400,000 promissory note with a due date of December 31, 2024. Interest is receivable at December 31 each year. Notes with similar risk have a market rate of interest of 5%. Set financial calculator to zero decimal place. Required: (a) Determine the value of the following: N = _________________ I/Y = ___________________ PMT = ______________________ FV = $______________ (b) The present value of the note was $________________ (c) Prepare a Schedule of Note Discount/Premium Amortization for Ace Company under the effective interest method.On January 1, 2022, ABC Company issued 9% Note with face amount of P2,000,000 which matures on January 1, 2032. The Note was issued for P1,878,000 to yield 10% resulting in a discount of P122,000. Interest is payable annually on December 31. On December 31, 2022, what amount should be reported as discount on Note payable? Answer: 114,200 On December 31, 2022, what amount should ABC Company report as Interest expense? Answer: 7,800 Please kindly provide solutions for these answers. thank youOn January 1, 2022, Slack Company finished legal services and accepted in exchange a 5% $400,000 promissory note with a due date of December 31, 2024. Interest is receivable on January 1 of each year. Notes with similar risk have a market rate of interest of 10%. Set financial calculators to zero decimal place. Required: (a) Determine the value of the following: N = I/Y = PMT = FV = (b) The present value of the note was (c) Prepare a Schedule of Note Discount/Premium Amortization for Slack Company under the effective interest method.
- asap Recording Entries for Note Payable Lacey Corp. issued a three-year, $17,500 note with an 8% stated rate to Hayley Co. on January 1, 2020, and received cash of $17,500. The note requires semiannual interest payments on June 30 and December 31. Provide journal entries to be made at each of the following dates. a. January 1, 2020, for issuance of the note. b. June 30, 2020, for the interest payment. Date Account Name Dr. Cr. a. Jan. 1, 2020 Answer Answer Answer Answer Answer Answer b. June 30, 2020 Answer Answer Answer Answer Answer Answer22. Subject :- Accounting On August 1, 2022, Colombo Company's treasurer signed a note promising to pay $120,300 onDecember 31, 2022. The proceeds of the note were $116,100.b. Calculate the effective interest rate (APR) on the loan.Note: Enter your answer as a percentage rounded to 1 decimal place (i.e., 32.1).Effective interest rateAssume the following information regarding a note received by HEERHUM YU Company:Principal amount of note receivable P1,500,000Date of note October 1, 2020Term of note 120 daysDate of discounting December 1, 2020Discount rate 12%Interest income for 120 days P50,000How much loss on discounting is to be recognized on December 1, 2020?
- 2. A 216-day, 6% promissory note with a face value RM6000 was discounted 76 days before the maturity date at 4.5% discount rate. If the date of the note was 4h June 2020. Using Banker's Rule. No use excel. Calculate d) The amount of proceeds (RM6154.02) e) The amount of discount (RM59.02)What is the maturity value of a 45-day note for $1,250 that is dated for May 23 and with interest at 8% Please use TI BA II calculator features (N, I/Y, PV, PMT, FV, AMORT) to solve questions (if possible)Use ordinary interest: Principal Rate of Interest Time Maturity Value Date Note Made Date Note Discounted Discount Period Proceeds $70,000 11% 90 days A March 10 April 15 B C Note to be discounted at 10%