The interest on a non-interest bearing note is equal to
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The interest on a non-interest bearing note is equal to
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- Face value of a note payable plus interest is called Omaturity value. O face value. O proceeds. Oprincipal.When the interest is NOT included in the face value of the note, the maturity value is greater than the face value a. True Ob. False. How is the present value of a non-interest-bearing note computed?
- Which of the following statements is TRUE? a.When the stated rate of interest exceeds the effective rate, the present value of the note receivable will be less than its face value. b.When the stated rate of interest differs from the effective rate, the note receivable will be sold at its face value. c.When the stated rate of interest exceeds the effective rate, the present value of the note receivable will be more than its face value. d.Companies record and report short-term notes receivable on a discounted basis.What is the expected result of a zero-interest-bearing note that is sold today for less than face value? a.) It has implicit interest equal to the difference between the face value and the present value. b.) It has an implicit premium paid equal to the difference between the face value and the present value. c.) It has a negative interest rate and will not generate revenue. d.) It has an implicit discount equal to the amortization of the sum of the face value and present value.When the market interest rate on a short-term note receivable is greater than the stated rate, ________. Group of answer choices the present value of the note is greater than its stated value the stated value of the note is greater than its face value the stated value of the note is less than its face value the present value of the note is less than its face value
- The proceeds of a discounted note are equal to the face value of the note. True FalseShort-term non-interest-bearing notes receivable are usually recorded at their a. present value b. net realizable value c. principal value d. maturity valueIf the proceeds of a discounted note are less than the face amount, the difference is debited to Interest Expense. True or False
- The total that must be paid when a note becomes due is known as the note value. maturity value. face value. principal.What is the principal amount of a note receivable plus the interest due called? promissory value maturity value expected value face valueWhich of the following is not true about the discount on short-term notes payable? a. The Discount on Notes Payable account should be reported as an asset on the balance sheet. b. When there is a discount on a note payable, the effective interest rate is higher than the stated discount rate. c.The Discount on Notes Payable account has a debit balance. d. Discount on Notes Payable is a contra account to Notes Payable.