Determine the due date and the amount of interest due at maturity on the following notes:   Date of Note  Face Amount Interest Rate  Term of Note Due Date Interest (1) Jun 1 $20,000 3% 40 days     (2) June 30 9,000 3% 180 days     (3) March 30 12,000 5% 45 days     (4) March 1 10,000 5% 60 days     (5) January 15 8,000 4% 60 days

Q: Compute interest and find the maturity date for the following notes. (Use 360 days for calculation.)…

A: Interest is computed as  Principal * rate * term / no.of days in a year. Maturity date is the date…

Q: Date Face Amount Term İnterest Rate 1. Mar. 6 $75,000 60 days 4% 2. Apr. 7 40,000 45 days 6% 3. Aug.…

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

Q: NOTE DATED APRIL 7, 2021 DUE IN 145 DAYS INTEREST RATE IS 7.5% FACE OF THE NOTE IS $12,000 CALCULATE…

A: Interest Amount = Principal Amount x Interest Rate  Maturity Value = Principal Amount + Interest

Q: еВook Show Me How Journalizing Installment Notes On the first day of the fiscal year, a company…

A: AN INSTALLMENT NOTE IS AN OBLIGATION OR LIABILITY THAT REQUIRES THE BORROWER TO REPAY THE PRINCIPAL…

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: date                   Face                    Rate%        Term aug. 8.              45000.…

A: Income statement is an important lifeline of accounting as it defines a companies financial position…

Q: Now journalize the collection of principal and interest at maturity on the three notes. Explanations…

A: Step 1 Interest on financial instruments is to be credited and capitalized along with the redemption…

Q: From the information given below, determine the due date for the following notes:   Date Issued…

A: Due date of note: When a debtor takes goods in credit, he issues a note that the payment of these…

Q: Autumn Designs & Decorators issued a 120-day, 5% note for $93,000, dated April 13 to Zebra Furniture…

A: Answer a) Due date =August 11 17+31+30+31+11

Q: Analyze the following: A $10,000 60 day interest bearing note was issued for cash on June 30 at a…

A:

Q: Determine the due date and the amount of interest due at maturity on the following notes: Date of…

A: Interest = Face amount x Interest rate x (Term of note / 360)

Q: On 1st Sept 2020 Sun LLC has accepted a note receivable for RO 1000 from one of the accounts…

A: Days outstanding  from 1st step to 31 dec   =  122 Maturity period is less than it so total interest…

Q: Determine the due date and the amount of interest due

A: Required details are given below

Q: Date of Note Face Amount Interest Rate Term of Note a. January 10* $40,000 5% 90 days b. March 19…

A: Formula: Interest amount = Note value x Interest rate x Time period.

Q: Compute interest and find the maturity date for the following notes. (Round answers to 0 decimal…

A: Interest refers to the amount of money paid on regular basis at specified rate for the use of money…

Q: A $40,000 loan at 4% dated June 10 is due to be paid on October 11. The amount of interest is…

A: Ordinary interest = Principle * Interest rate * Number of days of loan taken / 360 days in a year

Q: Autumn Designs & Decorators issued a 120-day, 8% note for $78,000, dated April 13 to Zebra Furniture…

A: The note receivable is an asset for the business which is issued by the debtors of the business.

Q: Following are the current note receivables of Monsoon, Inc. as of December 31, 2020. All notes have…

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

Q: Maturity Dates of Notes Receivable Determine the maturity date and compute the interest for each of…

A: Formula: Interest amount = Principal amount x interest rate. Multiplication of Principal amount with…

Q: Determine the due date and amount of interest due at maturity on the following notes Origination…

A: If there are 360 days per year:Interest = $8,000*9%*60/360 = $120   If there are 365 days per…

Q: Compute the interest accrued on each of the following notes receivable held by Northland, Inc. on…

A: In this question first, we will calculate the days till 31 December and then interest for…

Q: Compute interest and find the maturity date for the following notes. (Use 360 days for calculation.)…

A: Interest = Principal * rate * time  Maturity date = Issue date + Term period

Q: On 1st July 2020 Star LLC has accepted a note receivable for RO 2000 from one of the accounts…

A: Interest on note receivable shall be calculated from date of issuance till date of maturity.

Q: Journalize the following, assuming a 360-day year is used for interest calculations: ​ Apr. 30…

A: Interest Expense = 150,000 x 6% x 30 / 360 = $750

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: NOTE DATED 11/24/2021 DUE IN 156 DAYS, FACE OF THE NOTE IS $75,000, INTEREST RATE IS 9 %% CALCULATE…

A: Due date = Issuance date + 156 days = 11/24/2021 + 156 days = 29 April, 2022

Q: Maturity Dates of Notes Receivable Determine the maturity date and compute the interest for each of…

A: A note receivable is a written promise to pay a certain sum of money at a future date or on the…

Q: Determine the due date and amount of interest due at maturity on the following notes: Origination…

A: a. Interest amount = Face value of bonds x rate of interest x No. of days / 365 days = $8,000 x 8% x…

Q: Determine the due date and the amount of interest due at maturity on the following notes: Date of…

A: Formulas: Due Date (Maturity Date) = Date of Note + term on the note (in days) Interest on Note =…

Q: Find the maturity date, maturity value and proceeds of the below promissory note: Face Date Term…

A: A promissory note is a legal promise by one party to another party to pay a specific amount after a…

Q: A business issued a 45-day, 6% note for $210,000 to a creditor. Principal and interest are payable…

A: Notes are short term financial intrument with a fixed maturity period and usually short term…

Q: Determine the due date and the amount of interest due at maturity on the following notes: Date of…

A: Note receivable: Note receivable refers to a written promise received by the creditor from the…

Q: Compute the maturity value as indicated for each of the following notes receivable. A. A $9,000,…

A: Note receivable is said to be a written promise from a customer to pay a specific amount on a…

Q: Current Attempt in Progress Compute interest and find the maturity date for the following notes.…

A: Interest refers to the additional amount being paid or received with respect to the securities…

Q: Sylvestor Systems borrows $181,000 cash on May 15 by signing a 180-day, 6%, $181,000 note. 1. On…

A: Answer 1) Calculation of maturity date of notes payable Maturity date of note = Issue date of note +…

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

A: Note receivable refers to a negotiable instrument. It represents the claim amount due on the…

Q: Lundquist Company received a 60-day, 9% note for $28,000, dated July 23, from a customer on…

A: Note receivable: Note receivable refers to a written promise received by the creditor from the…

Q: Determine the due date and the amount of interest due at maturity on the following notes:   Date of…

A: Interest on Note = Face value X Rate of interest X Tenure in days/ 360 days

Q: Compute the interest accrued on each of the following notes receivable held by Kirkland, Inc., on…

A:

Q: On April 12 Hong co. agrees to accept a 60 day, 6% 6,900 note from indigo co to extend the due date…

A: Introduction: Journals: Recording of a business transaction in a chronological order. First step in…

Q: Compute the interest accrued on each of the following notes payable owed by Galloway, Inc., on…

A: Accrued interest simply means the amount of interest which is yet to be paid.

Q: If the note has been outstanding 3 months, what is the annual interest rate on that note? Interest…

A: Note outstanding = 3 month Interest Expense = 511 Note Payable = 4700

Q: (a) assuming Ringo Company makes reversing entries, prepare the reversing entry on January 1, and…

A: Journal: It refers to an account in which all the financial transactions pertaining to a business…

Q: Compute the maturity value as indicated for each of the following notes receivable. 1. A $9,000, 6%,…

A: The note receivable is the amount due from debtors.  The note receivable is the current asset for…