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Part (c) only
DueNorth Mining Inc. purchased some crushing equipment on July 1, 2020 for $300,000. A down payment...
DueNorth Mining Inc. purchased some crushing equipment on July 1, 2020 for $300,000. A down payment of $30,000 was required and the remainder was financed with a 8% instalment loan payable over 5 years with payments made on a quarterly basis. The quarterly payments required are $16,512 and include both interest and principal. The following is an extract from the loan amortization table the supplier provided to DueNorth : Payment Dates 9/30/20 12/31/20 3/31/21 6/30/21 9/30/21 12/31/21 Beginning loan balance...
DueNorth Mining Inc. purchased some crushing equipment on July 1,
2020 for $300,000. A down payment of $30,000 was required and the
remainder was financed with a 8% instalment loan payable over 5
years with payments made on a quarterly basis. The quarterly
payments required are $16,512 and include both interest and
principal. The following is an extract from the loan amortization
table the supplier provided to DueNorth :
Payment
Dates
Beginning
loan
balance
Payment
Interest
Principal
Ending
loan
balance...
DueNorth Mining Inc. purchased some crushing equipment on July
1, 2020 for $308,000. A down payment of $28,000 was required and
the remainder was financed with a 7% instalment loan payable over 5
years with payments made on a quarterly basis. The quarterly
payments required are $16,714 and include both interest and
principal. The following is an extract from the loan amortization
table the supplier provided to DueNorth :
Payment
Dates
Beginning
loan
balance
Payment
Interest
Principal
Ending
loan
balance...
DueNorth Mining Inc. purchased some crushing equipment on July
1, 2020 for $308,000. A down payment of $28,000 was required and
the remainder was financed with a 7% instalment loan payable over 5
years with payments made on a quarterly basis. The quarterly
payments required are $16,714 and include both interest and
principal. The following is an extract from the loan amortization
table the supplier provided to DueNorth :
Payment
Dates
Beginning
loan
balance
Payment
Interest
Principal
Ending
loan
balance...
correct version
DueNorth Mining Inc. purchased some crushing equipment on July 1, 2020 for $308,000. A down payment of $28,000 was required and the remainder was financed with a 7% instalment loan LORETIRE payable over 5 years with payments made on a quarterly basis. The quarterly payments required are $16,714 and include both interest and principal. The following is an extract from the loan GENER amortization table the supplier provided to DueNorth : Beginning Ending Payment loan Dates balance Payment...
please
help with the corrections
DueNorth Mining Inc. purchased some crushing equipment on May 1, 2020 for $308,000. A down payment of $28,000 was required and the remainder was financed with a installment on payable over 5 years with payments made on a quarterly basis. The quarterly payments required are 516,714 and include both interest and principal. The following is an extract from the loan amortization table the supplier provided to DueNorth : Ending loan Payment Dates 9/30/20 12/31/20 3/31/21...
pls
answer interest expense
AccoUNTING (Me FULL SCREEN DueNorth Mining Inc. purchased some crushing equipment on July 1, 2020 for $308,000. A down payment of $28,000 was required and the remainder was financed with a 7 % instalment loarm payable over 5 years with payments made on a quarterly basis. The quarterly payments required are $16,714 and include both interest and principal. The folowing is an extract from the loan amortization table the supplier provided to DueNorth: PRINTER VERSTON BACK...
On September 30, 2017, Coldwater Corporation purchased equipment
for $1,020,000. The equipment was purchased with a $100,000 down
payment and a three-year, 4%, $920,000 bank loan for the balance.
The terms provide for payment of the bank loan with quarterly fixed
principal payments of $76,667, plus interest, starting on December
31. Coldwater has a November 30 year end and records adjusting
entries annually.
(I only need help with the boxes in red!) Thank u so much
Record the first two...
Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $1,030,000. The equipment was purchased with a $80,000 down payment and a three-year, 3%, 5950,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $79,167, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually. Record the purchase of equipment on September 30, 2017. (Round answers to the nearest whole...
Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $940,000. The equipment was purchased with a $100,000 down payment and a three-year, 5%, $840,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $70,000, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually. Record the purchase of equipment on September 30, 2017. (Round answers to the nearest whole...