ShadyTree Company issued a note receivable to a customer. The face value of the note was $12,000 at 4% interest for 5 months. How much interest revenue should ShadyTree recognize for the entire term of the note? $280 $480 $200 $40

Q: Valley Designs issued a 90-day, 12% note for $36,000, dated April 15, to Bork Furniture Company on…

A: Maturity Value of Note will be Principal Amount and Interest on Note Interest = Principal * Interest…

Q: et income did Mickey Mouse earn on the note

A: Interest on note receivable = Face value of note receivable * Rate of interest * Number of months…

Q: Honeycomb Company issued a note receivable to a customer on September 1. The face value of the note…

A: Journal entry: A journal entry is used to record day-to-day transactions of the business by debiting…

Q: On May 15, Maynard Co. Borrowed cash from texas bank by issuing a 60 day note with a face amount…

A: Notes payable is a negotiable instrument signed by the promisor who agreed to pay a certain amount…

Q: Sylvestor Systems borrows $185,000 cash on May 15 by signing a 150-day, 7%, $185,000 note. 1. On…

A: Journal: Recording of a business transactions in a chronological order.

Q: Leek Company receives a $12,000, 3-month, 5% promissory note from Rey Company in settlement of an…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: Shady Tree Company issued a note receivable to a customer. The face value of the note was $12,000 at…

A: Note means an instrument acknowledging as debt due from one party to another party. It carry defined…

Q: On November 30, accounts receivable in the amount of P900,000 were assigned to Hello Finance Co. by…

A: SOLUTION- ACCOUNTS RECEIVABLE   IS A BALANCE  OF MONEY DUE TO A FIRM FOR GOOD OR SERVICES DELIVERED…

Q: Customer Bank loaned The Teacup Shoppe money at 6% interest for 90 days. If the interest was $300…

A: Interest rate id 6% Time period is 90days Total interest was $300   To Find: Principal amount…

Q: On April 1, Year 1, Halo Co. issued a $5,000 face value discount note to the Capri Bank. The note…

A: Amount of cash received = Face value of the Note - Discount amount where, Discount amount = Face…

Q: Al Havier Manufacturing received a Php 350,000 promissory note at 11% simple interest for 96 days…

A: Asper the honor code, We’ll answer the first question since the exact one wasn’t specified. Please…

Q: On July 31, 20A, ABC company discounted at the bank, a customer's 1,200,000, 6-month 10% notes…

A: Notes payable are signed arrangements (promissory notes) between two parties whereby one offered to…

Q: On September 1, The business sold merchandise for 33.000 TL (including 10% VAT) FOB Destination. The…

A: Notes payable are the asset of the firm where a borrower gives a written promise to lender to pay…

Q: At December 31 year-end, Crate Company has an $8,700 note receivable from a customer. Interest of 8%…

A: All assets of a company are reported in the balance sheet. Since note receivable is an asset, it…

Q: A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an…

A: Formula: Interest amount = Loan amount x Interest rate x Time period

Q: A 60-day, 6% note for $24,000, dated May 1, is received from a customer on account. The maturity…

A: The maturity value of note is calculated as sum of principal value and interest amount.

Q: On December 1, Williams Company borrowed $45,000 cash from Second National Bank by signing a 90-day,…

A: >Notes Payables are the note issued by the borrower, agreeing to pay the amount of note, along…

Q: On April 1, Year 1, Halo Co. issued a $5,000 face value discount note to the Capri Bank. The note…

A: Formula: Discount amount = Face value amount x Discount rate

Q: SNK Corp. produces advertising videos. During the current year ending December 31, SNK received the…

A: As posted multiple sub parts we are answering only first three sub parts kindly repost the…

Q: The Beta Company made a sale for $340,000 on credit. It accepted a note receivable from the…

A: Solution-  = $340000 * 4%  = 13600 Interest is calculated by applying Interest rate to the principle…

Q: On December 31 year-end, Crain Corporation has an $8,400 note receivable from a customer. The…

A: A note receivable is a document which is written promise made which indicates an amount to be…

Q: Pickett Company received a 90 day, six percent note receivable for $20,000 on November 1. How much…

A: Note receivable amount = $20,000 Due period = 90 days Note received date = November 1

Q: On October 13, The business sold merchandise for 198.000 TL (including 10% VAT) FOB Destination. The…

A: The selling of assets is recorded by debiting to notes receivable and crediting the machinery…

Q: Sylvestor Systems borrows $146,000 cash on May 15 by signing a 90-day, 7%, $146,000 note. 1. On what…

A: Notes Payable - Notes Payable is the Promissory Notes Issued by the borrower. It carried fixed rate…

Q: Hasty and Tasty Foodservice received a 120-day, 7% note for $84,000, dated June 12, from a customer…

A: In case of a credit sale, the customer is given an option to make payment for the sale within a…

Q: Houston Company receives a six-month note from a customer. The note has a face amount of $8,000 and…

A: Interest Rate: It is a portion of the principal amount that is charged by a lender for the use of…

Q: Sylvestor Systems borrows $110,000 cash on May 15 by signing a 60-day, 12%, $110,000 note. 1. On…

A: Interest on Notes = Face value of Notes x rate of interest x time = $110,000 x 12% x 60/360 = $2,200

Q: 17. Walnut company received from a customer an 1-year, P200,000 note bearing annual interest of 8%.…

A: The maturity value of note is calculated as sum of principal value of note and interest earned.

Q: Sylvestor Systems borrows $69,000 cash on May 15 by signing a 60-day, 8%, $69,000 note. 1. On what…

A: Formula: Interest expense = Notes amount x Time period x Interest rate

Q: On October 1, Eli's Carpet Service borrows $125,000 from First National Bank on a 3-month, $125,000,…

A: A journal entry is used to record day-to-day transactions of the business by debiting and crediting…

Q: PELADRA Company assigned P500,000 of accounts receivable to PANCHO Finance Company as a security for…

A: Accounts receivables:- Accounts receivables includes the money which is due to a firm on goods and…

Q: Sylvestor Systems borrows $63,000 cash on May 15 by signing a 120-day, 6%, $63,000 note. 1. On what…

A: Introduction: Journal: Recording of a business transactions in a chronological order. First step in…

Q: Quick Tire and Lube received a 120-day, 8% note for $72,000, dated April 9 from a customer on…

A: Journal is a place where accounting transactions are listed in the book keeping system before ledger…

Q: A 60-day, 5% note for $7,800, dated April 15, is received from a customer on account. The face value…

A: Definition: Receivables: Receivables refer to an amount to be received in future. General…

Q: On June 43, Trade Bank loaned a customer $30,000 on a 60-day, 10% note, temiting the face value less…

A: WORKING : PARTICULARS AMOUNT ($) FACE VALUE OF NOTES RECEIVABLE  $30,000 INTEREST RATE  10%…

Q: A 180-day note was signed on June 11 for $24, 700. The note has a rate of 9.5%, compounded annually.…

A: Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only one…

Q: Calculating Interest on Promissory Notes Receivable Dallas Company receives a six-month note from a…

A: Calculating the value of total amount of interest income for a 6-months note. We have,Total amount…

Q: Prefix Supply Company received a 120-day, 8% note for $450,000, dated April 9 from a customer on…

A: Introduction: A journal entry is a record of a business transaction in an organization's accounting…

Q: Sylvestor Systems borrows $ 110,000 cash on May 15 by signing a 60-day, 12%, 110,000 note 1. On what…

A: 1. On July 14th the note mature.

Q: 60-day, 9% note for $10,000, dated May 1, is received from a customer on account.  Use 30 day months…

A: The  note is type of exchange in which they are is promised to pay the specified amount within a…

Q: Prefix Supply Company received a 120-day, 8% note for $450,000, dated April 9 from a customer on…

A: Solution: (a). Calculate due date as follows :   Number of days in month  Cumulative days…

Q: a company borrowed 12,000 by signing a 120 day promissory note at 15% the total to be paid at…

A: Formula: Interest amount = Principal amount x Interest rate x Time period.

Q: On December 1, Victoria Company signed a 90-day, 6% note payable, with a face value of $15,000. What…

A: Interest accrued = Note payable x Interest rate x 30/360 = $15000 x 6% x 1/12 = $75

Q: A business issued a 45-day note for $80,000 to a creditor on account. The note was discounted at 5%.…

A: