When is the maturity date of an account receivable?
When is the maturity date of an account receivable?
Homework Answers
The maturity date of account receivable depends on the days of credit granted to the customers. It starts on the day of sale till the days of credit. 20 days of credit term granted to the customers on 1/1/2019 ends on 20/1/2019.
Question 15 A promissory note receivable that is not collected by the due date becomes O An Account Receivable for...
Question 15 A promissory note receivable that is not collected by the due date becomes O An Account Receivable for the Face Amount of the note. O An Account Receivable for the Maturity Value of the note. O A Bad Debt Experse for the Maturity Value of the note. O A Bad Debt Expense for the Face Amount of the note. Question Atten
Maturity Dates of Notes Receivable Determine the maturity date and compute the interest for each of...
Maturity Dates of Notes Receivable Determine the maturity date and compute the interest for each of the following notes: (Round to the nearest dollar.) Date of Interest Note Principal Rate Term a. July 10 $7,200 94 90 days b. April 25 12,000 5 120 days May 19 11,200 7% 120 days d June 10 5.400 1145 days e. October 29 30,000 6% 75 days Maturity Date Month Day Interest Check Previous Save Answers
Maturity Dates of Notes Receivable Determine the maturity date and compute the interest for each of...
Maturity Dates of Notes Receivable Determine the maturity date and compute the interest for each of the following notes: (Round to the nearest dollar.) Date of Interest Principal Rate Note Term 90 days $7,200 а. July 10 9% 5% 120 days b. April 25 12,000 7% 120 days C. May 19 11,200 45 days d. June 10 5,400 11% 75 days e. October 29 30,000 6%
Reload this page Naturtyates of Notes Receivable Determine the maturity date and compute the interest for...
Reload this page Naturtyates of Notes Receivable Determine the maturity date and compute the interest for each of the following notes: (Round to the nearest dollar.) Date of Note a. August 5 b. May 10 C. October 30 d. July 6 e. September 15 Principal $20,000 50,400 Interest Rate 8% 7% 9% 11% 8% Term 120 days 90 days 45 days 60 days 60 days 72,000 13,750 27,000 Maturity Date Month Day Interest 0 $ 0 ف ن ت نه
Eneroso Determine the maturity date for each of the following notes: Maturity Date Issue Date 2018...
Eneroso Determine the maturity date for each of the following notes: Maturity Date Issue Date 2018 January 13 2018 January 31 2018 June 4 2018 December 2 Ufe 30 days 90 days 1 year 1 month 9 Exercise H Crawford, Inc., gave a $20,000, 120-day, 12 per cent note to Dunston, Inc., in exchange for merchandise. Crawford uses periodic Inventory procedure. Prepare journal entries to record the issuance of the note and the entries needed at maturity for Crawford, assuming...
The amount due on the maturity date of a $9,600, 45-day 8%, note receivable is: (Use...
The amount due on the maturity date of a $9,600, 45-day 8%, note receivable is: (Use 360 days a year.) Multiple Choice Ο 59,600. Ο ( $10,368. Ο $9,504. Ο S9,696. Ο ( $8,832.
The maturity date of a note is when adjusting journal entries are made. at the company’s...
The maturity date of a note is
when adjusting journal entries are made.
at the company’s year end.
the period of time from the note’s issue date to its due
date.
the day the note must be repaid.
Requirement 3. Joumalize the collection of the principal and interest at maturity. Specify the date. Round...
Requirement 3. Joumalize the collection of the principal and interest at maturity. Specify the date. Round to the nearest dollar. (Record debits first, then credits Select the explanation on the last line of the journal entry table Check your spelling carefully and do not abbreviate except with respect to the debtor's name. When entering the debtor's name, enter the name exactly as is presented in the problem data For example: Notes Receivables Johnson. For notes stated in days, use a...
No. Date Account Titles and Explanation Debit Credit (1) Dec 500000 3 Accounts Receivable 500000 Sales...
No. Date Account Titles and Explanation Debit Credit (1) Dec 500000 3 Accounts Receivable 500000 Sales Revenue (To record credt sale) Cost of Goods Sold 320000 Inventory 320000 (To record cost of good sold) Dec. (2) E Sales Returns and Allowances 20000 Accounts Receivable 20000 Dec. (3) 043 Cash 475200 Sales Discounts 4800 Accounts Receivable 480000 ▼ (b) Assume that Kale Company received the balance due from Thomson Co. on January 2 of the following year instead of December 13....
E8-25 Journalizing note receivable transactions Professional Steam Cleaning performs services on account. When a cu...
E8-25 Journalizing note receivable transactions Professional Steam Cleaning performs services on account. When a customer account becomes four months old, Professional converts the account to a note receivable. During 2018, the company completed the following transactions: Apr. 28 Performed service on account for Parkview Club, $18,000. Sep. 1 Received an $18,000, 60-day, 12% note from Parkview Club in satisfaction of its past-due account receivable. Oct. 31 Collected the Parkview Club note at maturity. cr Record the transactions in Professional's journal....
Question 15 A promissory note receivable that is not collected by the due date becomes O An Account Receivable for the Face Amount of the note. O An Account Receivable for the Maturity Value of the note. O A Bad Debt Experse for the Maturity Value of the note. O A Bad Debt Expense for the Face Amount of the note. Question Atten
Maturity Dates of Notes Receivable Determine the maturity date and compute the interest for each of the following notes: (Round to the nearest dollar.) Date of Interest Note Principal Rate Term a. July 10 $7,200 94 90 days b. April 25 12,000 5 120 days May 19 11,200 7% 120 days d June 10 5.400 1145 days e. October 29 30,000 6% 75 days Maturity Date Month Day Interest Check Previous Save Answers
Maturity Dates of Notes Receivable Determine the maturity date and compute the interest for each of the following notes: (Round to the nearest dollar.) Date of Interest Principal Rate Note Term 90 days $7,200 а. July 10 9% 5% 120 days b. April 25 12,000 7% 120 days C. May 19 11,200 45 days d. June 10 5,400 11% 75 days e. October 29 30,000 6%
Reload this page Naturtyates of Notes Receivable Determine the maturity date and compute the interest for each of the following notes: (Round to the nearest dollar.) Date of Note a. August 5 b. May 10 C. October 30 d. July 6 e. September 15 Principal $20,000 50,400 Interest Rate 8% 7% 9% 11% 8% Term 120 days 90 days 45 days 60 days 60 days 72,000 13,750 27,000 Maturity Date Month Day Interest 0 $ 0 ف ن ت نه
Eneroso Determine the maturity date for each of the following notes: Maturity Date Issue Date 2018 January 13 2018 January 31 2018 June 4 2018 December 2 Ufe 30 days 90 days 1 year 1 month 9 Exercise H Crawford, Inc., gave a $20,000, 120-day, 12 per cent note to Dunston, Inc., in exchange for merchandise. Crawford uses periodic Inventory procedure. Prepare journal entries to record the issuance of the note and the entries needed at maturity for Crawford, assuming...
The amount due on the maturity date of a $9,600, 45-day 8%, note receivable is: (Use 360 days a year.) Multiple Choice Ο 59,600. Ο ( $10,368. Ο $9,504. Ο S9,696. Ο ( $8,832.
The maturity date of a note is
when adjusting journal entries are made.
at the company’s year end.
the period of time from the note’s issue date to its due
date.
the day the note must be repaid.
Requirement 3. Joumalize the collection of the principal and interest at maturity. Specify the date. Round to the nearest dollar. (Record debits first, then credits Select the explanation on the last line of the journal entry table Check your spelling carefully and do not abbreviate except with respect to the debtor's name. When entering the debtor's name, enter the name exactly as is presented in the problem data For example: Notes Receivables Johnson. For notes stated in days, use a...
No. Date Account Titles and Explanation Debit Credit (1) Dec 500000 3 Accounts Receivable 500000 Sales Revenue (To record credt sale) Cost of Goods Sold 320000 Inventory 320000 (To record cost of good sold) Dec. (2) E Sales Returns and Allowances 20000 Accounts Receivable 20000 Dec. (3) 043 Cash 475200 Sales Discounts 4800 Accounts Receivable 480000 ▼ (b) Assume that Kale Company received the balance due from Thomson Co. on January 2 of the following year instead of December 13....
E8-25 Journalizing note receivable transactions Professional Steam Cleaning performs services on account. When a customer account becomes four months old, Professional converts the account to a note receivable. During 2018, the company completed the following transactions: Apr. 28 Performed service on account for Parkview Club, $18,000. Sep. 1 Received an $18,000, 60-day, 12% note from Parkview Club in satisfaction of its past-due account receivable. Oct. 31 Collected the Parkview Club note at maturity. cr Record the transactions in Professional's journal....
Most questions answered within 3 hours.
-
The denaturation of proteins can be described by the
equilibrium
F⇌U
where F and U represent...
asked 24 minutes ago -
Please answer what the maximum and minimum force is, and the
angle on the ion is...
asked 26 minutes ago -
implement a program that reads a number of rows and a symbol.
The program will draw...
asked 31 minutes ago -
Assume that when adults with smartphones are randomly selected,
45% use them in meetings or classes....
asked 35 minutes ago -
Determine the number of formula units of
Na2SO4 and moles of oxygen contained in 8.11
moles...
asked 45 minutes ago -
Explain in steps on the following code
What would be the output when executed
using System;...
asked 53 minutes ago -
Given the information in the table, which of the following
statements is CORRECT?
Stock A
Stock...
asked 51 minutes ago -
Write MARIE assembly language programs that do the following:
Write a program that inputs an integer...
asked 55 minutes ago -
Explain an understanding of services and protocols.
Explain the job of DNS.
Explain the three email...
asked 1 hour ago -
(As soon as possible) Balance each of the following equations
according to the half-reaction method:
H2O2(aq)...
asked 1 hour ago -
A thin rod with a mass of 3.5kg and a length L=1.5 m is oriented
horizontally....
asked 1 hour ago -
Inheritance pattern in BRCA 1
Describe the inheritance pattern of BRCA 1 Is it recessive or...
asked 1 hour ago