Homework Answers
Interest Due
| A | D | E | B | C=A+B | F=D*E*B/360,12 |
| Date Issued | Note Value | Interest Rate | Period (days/month) | Date Payable | Interest Due |
| 15-Feb-19 | $ 27,000.00 | 9% | 180 | 14-Aug-19 | $ 1,215.00 |
| 3-Oct-19 | $ 6,700.00 | 12% | 4 | 2-Feb-20 | $ 268.00 |
| 18-Oct-19 | $ 32,000.00 | 10% | 180 | 15-Apr-20 | $ 1,600.00 |
Analyze
| Note Issued on 15 Feb is paid on 14th Aug-19. | |||||
| So Note issued on 3rd Oct 19 and 18th Oct 19 will be standing in books as on 31st Dec 2019. | |||||
| Balance in Notes payable | =6700+32000 | $ 38,700.00 | |||
| Balance in Interest Due | =268+1600 | $ 1,868.00 | |||
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Wrigley Company issued the following notes during 2019. Find the interest due on each of the...
Wrigley Company issued the following notes during 2019. Find the interest due on each of the...
Wrigley Company issued the following notes during 2019. Find the interest due on each of the notes, using the interest formula method. Analyze What is the balance in Notes Payable on December 31, 2019, assuming that all notes were paid when due? Complete this question by entering your answers in the tabs below. Interest Due Find the interest due on each of the notes, using the interest formula method. (Use 360 days a year) Interest 1. A $24,000 note at...
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Determine Due Date and Interest on Notes Determine the due date and the amount of interest...
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Wrigley Company issued the following notes during 2019. Find the interest due on each of the notes, using the interest formula method. Analyze What is the balance in Notes Payable on December 31, 2019, assuming that all notes were paid when due? Complete this question by entering your answers in the tabs below. Interest Due Find the interest due on each of the notes, using the interest formula method. (Use 360 days a year) Interest 1. A $24,000 note at...
Determine Due Date and Interest on Notes 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 a. January 10* $40,000 5% 90 days b. March 19 1 8,000 8 180 days c. June 5 90,000 30 days d. September 8 36,000 3 90 days e. November 20 27,000 4 60 days *Assume that February has 28 days. in om Assume 360-days in a...
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Determine Due Date and Interest on Notes 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 January 5 120 days $92,000 6% а. b. February 15 18,000 4 30 days 65,000 45 days May 19 8 C. 33,600 d. August 20 90 days 90 days October 19 46,000 7 е. Assume a leap year in which February has 29 days. Assume 360 days...
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