Evaluating Alternative Notes
A borrower has two alternatives for a loan: (1) issue a $360,000, 90-day, 7% note or (2) issue a $360,000, 90-day note that the creditor discounts at 7%. Assume a 360-day year.
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Evaluating Alternative Notes
A borrower has two alternatives for a loan: (1) issue a
$360,000, 90-day,...
4 Need this done asap. Thanks in advance! Evaluating alternative notes A borrower has two alternatives...
4
Need this done asap. Thanks in advance!
Evaluating alternative notes A borrower has two alternatives for a loan: (1) issue a $240,000, 90-day, 8% note or (2) issue a $240,000, 90-day note that the creditor discounts at 8%. Assume a 360-day year. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. X Open spreadsheet a. Calculate the amount of the interest expense...
Chapter 11 BOOK Show Me How Calculator Ofice 365 Evaluating alternative notes 1. EX 11 11...
Chapter 11 BOOK Show Me How Calculator Ofice 365 Evaluating alternative notes 1. EX 11 11 BLANKSHEETALOO 2. EX 11.01. ALGO A borrower has two alternatives for a loan: (1) $420,000, 60-day, 5 note or (2) issue a $420,000, 60-day note that the creditor discounts at 5% Assume a 360-day year. This information has been collected in the Microsoft Excel Online Open the spreadsheet, perform the required analysis, and input your answers in the questions below 3. PR 1105 ALGO...
Proceeds from notes payable On September 1, elegant Salon company issued a 90-day note with a...
Proceeds from notes payable On September 1, elegant Salon company issued a 90-day note with a face amount of $78,000 to Hamlet Hair Products Company for merchandise inventory. Assume a 360 day year. Determine the proceeds of the note, assuming the note carries an interest rate of 9%. $______________ Determine the proceeds of the note, assuming the note is discounted at 9%. $_________________
On January 26, Nova Co. borrowed cash from Conrad Bank by issuing a 90-day note with a face amount of $50,400
Proceeds from Notes Payable On January 26, Nova Co. borrowed cash from Conrad Bank by issuing a 90-day note with a face amount of $50,400. Assume a 360-day year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 7% b. Determine the proceeds of the note, assuming the note is discounted at 7%.
There are three alternatives to increase each financing alternative is for a full year.) (1) Fore...
There are three alternatives to increase each financing alternative is for a full year.) (1) Forego cash discounts with the terms of 2/10/net 40. (2) Borrow the money at 7 percent from the bank on a regular basis. This bank 8-2 net working capital by $10,000.(Assume loan requires a minimum compensating balance of 20 percent. (3) Sell commercial paper at 8 percent. The underwriting fees of the issue are 2 percent of the face value. Calculate the effective annual interest...
Proceeds from Notes Payable On September 1, Bella Salon Company issued a 120-day note with a...
Proceeds from Notes Payable On September 1, Bella Salon Company issued a 120-day note with a face amount of $67,200 to Hamlet Hair Products Company for merchandise inventory. Assume a 360-day year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 8%. b. Determine the proceeds of the note, assuming the note is discounted at 8%
Proceeds from Notes Payable On September 1, Nova Salon Company issued a 60-day note with a...
Proceeds from Notes Payable On September 1, Nova Salon Company issued a 60-day note with a face amount of $38,400 to Motlocks Hair Products Company for merchandise inventory. Assume a 360-day year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 10% b. Determine the proceeds of the note, assuming the note is discounted at 10%
On May 15, Maynard Co. borrowed cash from Texas Bank by issuing a 90-day note with...
On May 15, Maynard Co. borrowed cash from Texas Bank by issuing a 90-day note with a face amount of $73,200. Assume a 360-day year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 9%. $ b. Determine the proceeds of the note, assuming the note is discounted at 9%. $
Third National Bank makes a S29.000. 90-day, 90% cash loan to Equit Co. which of entry...
Third National Bank makes a S29.000. 90-day, 90% cash loan to Equit Co. which of entry that Third National Bank should record assuming Equit Co. pays the Bank the amount due on the maturity date of the note? (Use 360-day year with 30 days each month) the answer choices is the Correct journal Mutiple Choice Debit Notes Payable $29,000 Debit Interest Expense $2,610, credit Cash $31610 Debit Cash $29,652.50, credit Notes Receivable for $29 652 50 Debit Cash $31,610, credn...
1 Need this done asap. Thanks in advance! Proceeds from Notes Payable On January 26, Vibrant...
1
Need this done asap. Thanks in advance!
Proceeds from Notes Payable On January 26, Vibrant Co. borrowed cash from Conrad Bank by issuing a 60-day note with a face amount of $46,800. Assume a 360-day year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 8%. b. Determine the proceeds of the note, assuming the note is discounted at 8%.
4
Need this done asap. Thanks in advance!
Evaluating alternative notes A borrower has two alternatives for a loan: (1) issue a $240,000, 90-day, 8% note or (2) issue a $240,000, 90-day note that the creditor discounts at 8%. Assume a 360-day year. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. X Open spreadsheet a. Calculate the amount of the interest expense...
Chapter 11 BOOK Show Me How Calculator Ofice 365 Evaluating alternative notes 1. EX 11 11 BLANKSHEETALOO 2. EX 11.01. ALGO A borrower has two alternatives for a loan: (1) $420,000, 60-day, 5 note or (2) issue a $420,000, 60-day note that the creditor discounts at 5% Assume a 360-day year. This information has been collected in the Microsoft Excel Online Open the spreadsheet, perform the required analysis, and input your answers in the questions below 3. PR 1105 ALGO...
There are three alternatives to increase each financing alternative is for a full year.) (1) Forego cash discounts with the terms of 2/10/net 40. (2) Borrow the money at 7 percent from the bank on a regular basis. This bank 8-2 net working capital by $10,000.(Assume loan requires a minimum compensating balance of 20 percent. (3) Sell commercial paper at 8 percent. The underwriting fees of the issue are 2 percent of the face value. Calculate the effective annual interest...
Proceeds from Notes Payable On September 1, Bella Salon Company issued a 120-day note with a face amount of $67,200 to Hamlet Hair Products Company for merchandise inventory. Assume a 360-day year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 8%. b. Determine the proceeds of the note, assuming the note is discounted at 8%
Proceeds from Notes Payable On September 1, Nova Salon Company issued a 60-day note with a face amount of $38,400 to Motlocks Hair Products Company for merchandise inventory. Assume a 360-day year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 10% b. Determine the proceeds of the note, assuming the note is discounted at 10%
Third National Bank makes a S29.000. 90-day, 90% cash loan to Equit Co. which of entry that Third National Bank should record assuming Equit Co. pays the Bank the amount due on the maturity date of the note? (Use 360-day year with 30 days each month) the answer choices is the Correct journal Mutiple Choice Debit Notes Payable $29,000 Debit Interest Expense $2,610, credit Cash $31610 Debit Cash $29,652.50, credit Notes Receivable for $29 652 50 Debit Cash $31,610, credn...
1
Need this done asap. Thanks in advance!
Proceeds from Notes Payable On January 26, Vibrant Co. borrowed cash from Conrad Bank by issuing a 60-day note with a face amount of $46,800. Assume a 360-day year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 8%. b. Determine the proceeds of the note, assuming the note is discounted at 8%.
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