A $ 33,012 simple interest bearing promissory note is issued on June 26, 2018 at 7.09...
A $ 33,012 simple interest bearing promissory note is issued on June 26, 2018 at 7.09 % p.a. for 70 days. Determine the maturity value of the note
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A $ 33,012 simple interest bearing promissory note is issued on
June 26, 2018 at 7.09...
A $ 49,437 simple interest bearing promissory note is issued on July 13, 2019 at 11.11...
A $ 49,437 simple interest bearing promissory note is issued on July 13, 2019 at 11.11 % p.a. for 173 days. Determine the interest that will be earned on the promissory note.
A $ 49,437 simple interest bearing promissory note is issued on July 13, 2019 at 11.11...
A $ 49,437 simple interest bearing promissory note is issued on July 13, 2019 at 11.11 % p.a. for 173 days. Determine the interest that will be earned on the promissory note.
A six month promissory note dated March 31/2019 and bearing an interest rate of 5% has...
A six month promissory note dated March 31/2019 and bearing an interest rate of 5% has a maturity value of $2500. find the face value of the note
113/2020 Chapter 10-A 17. A non-interest bearing promissory note for $1250.00 was discounted at 4% p.a....
113/2020 Chapter 10-A 17. A non-interest bearing promissory note for $1250.00 was discounted at 4% p.a. compounded semi-annualy. If the proceeds of the note were $1131.00, how long before the due date was the note discounted? State your answer in years and months (from 0 to 11 months). The note was discounted year(s) and month(s) before the due date.
question 6,7 6. (4 marks) A 182-day promissory note for $1000 with simple interest at 9%...
question 6,7
6. (4 marks) A 182-day promissory note for $1000 with simple interest at 9% is signed on January 12 2018. After 62 days, it is sold to a finance company that charges a simple discount of 6%. a. How much does the finance company pay for the note? b. What is the simple interest rate of return that the finance company earns on its investment if it holds the note until its maturity? 7. (6 Marks) Jean owes...
10. Susan received a promissory note issued on July 20, 2020 with $2000 on face and...
10. Susan received a promissory note issued on July 20, 2020 with $2000 on face and interest rate is 7.2% due in 6 months. What will be the maturity value of this note? 11. George purchased a T-bill from TD Bank. The face value is $5000 due in 182 days to yield 1.2%. What was the purchase price?
The journal entry to record the collection of the amount due on an interest-bearing promissory note...
The journal entry to record the collection of the amount due
on an interest-bearing promissory note form a customer would debit
Cash, credit Notes Recievable, and
MC Qu. 9-33 The journal entry to record the... The journal entry to record the collection of the amount due on an interest beaning promissory note from a customer would debit Cash, credit Notes Receivable, and Choice O debito pense O crede Irenest Experne Credit Instincome o income < P 6 H d >...
Your client invested $10,000 in an interest bearing promissory note earning an 11% annual rate of...
Your client invested $10,000 in an interest bearing promissory note earning an 11% annual rate of interest, compounded monthly. How much will the note be worth at the end of 7 years, assuming that all interest is reinvested at the 11% rate? $20,079.20 $21,152.00 $22,281.40 $21,522.04
40. A note on which no rate of interest is specified is atn) market-rate note interest-bearing...
40. A note on which no rate of interest is specified is atn) market-rate note interest-bearing note. non-interest-bearing note variable note b. d. rses a note and transfers it to a bank, the process is callerd discounting a note receivable. b. cosigning a note receivable. collecting a note receivable dishonoring a note receivable. person who promises to pay a certain amount of money at a definite future time is caliled the b. c. discounter of the note. 42. The maker...
On June 1, 2018, Dirty Harry Co. borrowed cash by issuing a 6-month noninterest-bearing note with...
On June 1, 2018, Dirty Harry Co. borrowed cash by issuing a 6-month noninterest-bearing note with a maturity value of $440,000 and a discount rate of 6%. Assuming straight-line amortization of the discount, what is the carrying value of the note as of September 30, 2018? (Round all calculations to the nearest whole dollar amount.) Multiple Choice 0 $426,800 O $418,000 0 $462.000 0 $435,600
113/2020 Chapter 10-A 17. A non-interest bearing promissory note for $1250.00 was discounted at 4% p.a. compounded semi-annualy. If the proceeds of the note were $1131.00, how long before the due date was the note discounted? State your answer in years and months (from 0 to 11 months). The note was discounted year(s) and month(s) before the due date.
question 6,7
6. (4 marks) A 182-day promissory note for $1000 with simple interest at 9% is signed on January 12 2018. After 62 days, it is sold to a finance company that charges a simple discount of 6%. a. How much does the finance company pay for the note? b. What is the simple interest rate of return that the finance company earns on its investment if it holds the note until its maturity? 7. (6 Marks) Jean owes...
10. Susan received a promissory note issued on July 20, 2020 with $2000 on face and interest rate is 7.2% due in 6 months. What will be the maturity value of this note? 11. George purchased a T-bill from TD Bank. The face value is $5000 due in 182 days to yield 1.2%. What was the purchase price?
The journal entry to record the collection of the amount due
on an interest-bearing promissory note form a customer would debit
Cash, credit Notes Recievable, and
MC Qu. 9-33 The journal entry to record the... The journal entry to record the collection of the amount due on an interest beaning promissory note from a customer would debit Cash, credit Notes Receivable, and Choice O debito pense O crede Irenest Experne Credit Instincome o income < P 6 H d >...
40. A note on which no rate of interest is specified is atn) market-rate note interest-bearing note. non-interest-bearing note variable note b. d. rses a note and transfers it to a bank, the process is callerd discounting a note receivable. b. cosigning a note receivable. collecting a note receivable dishonoring a note receivable. person who promises to pay a certain amount of money at a definite future time is caliled the b. c. discounter of the note. 42. The maker...
On June 1, 2018, Dirty Harry Co. borrowed cash by issuing a 6-month noninterest-bearing note with a maturity value of $440,000 and a discount rate of 6%. Assuming straight-line amortization of the discount, what is the carrying value of the note as of September 30, 2018? (Round all calculations to the nearest whole dollar amount.) Multiple Choice 0 $426,800 O $418,000 0 $462.000 0 $435,600
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