Porter's Inc. issued a 120-day note in the amount of $160,000 on 12/14/12 with an annual...
Porter's Inc. issued a 120-day note in the amount of $160,000 on 12/14/12 with an annual rate of 9%. What amount of interest has accrued as of 12/31/12?
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Porter's Inc. issued a 120-day note in the amount of $160,000 on
12/14/12 with an annual...
D ont y wered Marked out of 2.00 Plague Brothers Inc. issued a 120 day note...
D ont y wered Marked out of 2.00 Plague Brothers Inc. issued a 120 day note in the amount of $180,000 on November 1, 2019 with an annual rate of 6 What amount of interest has accrued as of December 31, 20192 Select one
On August 1, Batson Company issued a 60 day note with a face amount of $55,200...
On August 1, Batson Company issued a 60 day note with a face amount of $55,200 to Jergens Company for merchandise inventory. (Assume a 360-day yea used for interest calculations.) a. Determine the proceeds of the note assuming the note carries an interest rate of 12 b. Determine the proceeds of the note assuming the note is discounted at 12 Previous Next > Email mestructor Save and e 9 A OAM June 1, Davis Inc. issued an 4.200,10%, 120-day not...
Ancient Grains Inc. issued a 4 month note in the amount of $500,000 on October 1,...
Ancient Grains Inc. issued a 4 month note in the amount of $500,000 on October 1, 2021 with an annual rate of 5%. What amount of interest has accrued as of December 31, 2020? Select one: o A. $2,083 O B. $6,250 o C. $8,333 o D. $25,000
On July 8, Jones Inc. issued an $76,400, 7%, 120-day note payable to Miller Company. Assume...
On July 8, Jones Inc. issued an $76,400, 7%, 120-day note payable to Miller Company. Assume that the fiscal year of Jones ends on July 31. Using the 360-day year, what is the amount of interest expense recognized by Jones in the current fiscal year? Round your answer to the nearest whole dollar.
please help On June 1, Davis Inc. issued an $60,000, 10%, 120-day note payable to Garcia...
please help
On June 1, Davis Inc. issued an $60,000, 10%, 120-day note payable to Garcia Company. Assume that the fiscal year of Garcia ends June 30. Using the 360-day year, what is the amount of interest revenue (rounded) recognized by Garcia in the following year? Oa. $6,000 Ob. $1,500 c. $500 d. $1,000 G
Meyer, Inc., issued a $50,000, 120-day, noninterest-bearing note on November 1, 2018, payable to the bank. At the date o...
Meyer, Inc., issued a $50,000, 120-day, noninterest-bearing note on November 1, 2018, payable to the bank. At the date of discount, the bank's discount rate was 15 percent.Myer would prepare which of the following journal entries on December 31, 2018? a) Interest Expense 1,250 Discount on Notes Payable 1,250 b) Interest Expense 1,250 Cash 1,250 c) Interest Expense 1,250 Interest Payable 1,250 d)Interest Payable 1,250 Discount on Notes Payable 1,250
A business issued a 120-day, 15% note for $92,000 to a creditor on account
Entries for Notes Payable A business issued a 120-day, 15% note for $92,000 to a creditor on account. Journalize the entries to record (a) the issuance of the note and (b) the payment of the note at maturity, including interest. Assume a 360-day year. If an amount box does not require an entry, leave it blank.
Specialty Autoparts Inc. issued $160,000 of 7%, 10-year bonds at a price of 86 on January...
Specialty Autoparts Inc. issued $160,000 of 7%, 10-year bonds at a price of 86 on January 31, 2017. The market interest rate at the date of issuance was 9%, and the standard bonds pay interest semi-annually. 1. Prepare an effective-interest amortization table for the bonds through the first three interest payments. 2. Record Specialty's issuance of the bonds on January 31, 2017, and payment of the first semi-annual interest amount and amortization of the bonds on July 31, 2017. Explanations...
A business issued a 120-day, 6% note for $12,600 to a creditor on account. The company...
A business issued a 120-day, 6% note for $12,600 to a creditor on account. The company uses a 360-day year for interest calculations. Journalize the entries to record (a) the issuance of the note and (b) the payment of the note at maturity, including interest. If an amount box does not require an entry, leave it blank or enter 0. When required, round your answers to the nearest dollar.
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%
D ont y wered Marked out of 2.00 Plague Brothers Inc. issued a 120 day note in the amount of $180,000 on November 1, 2019 with an annual rate of 6 What amount of interest has accrued as of December 31, 20192 Select one
On August 1, Batson Company issued a 60 day note with a face amount of $55,200 to Jergens Company for merchandise inventory. (Assume a 360-day yea used for interest calculations.) a. Determine the proceeds of the note assuming the note carries an interest rate of 12 b. Determine the proceeds of the note assuming the note is discounted at 12 Previous Next > Email mestructor Save and e 9 A OAM June 1, Davis Inc. issued an 4.200,10%, 120-day not...
Ancient Grains Inc. issued a 4 month note in the amount of $500,000 on October 1, 2021 with an annual rate of 5%. What amount of interest has accrued as of December 31, 2020? Select one: o A. $2,083 O B. $6,250 o C. $8,333 o D. $25,000
please help
On June 1, Davis Inc. issued an $60,000, 10%, 120-day note payable to Garcia Company. Assume that the fiscal year of Garcia ends June 30. Using the 360-day year, what is the amount of interest revenue (rounded) recognized by Garcia in the following year? Oa. $6,000 Ob. $1,500 c. $500 d. $1,000 G
Specialty Autoparts Inc. issued $160,000 of 7%, 10-year bonds at a price of 86 on January 31, 2017. The market interest rate at the date of issuance was 9%, and the standard bonds pay interest semi-annually. 1. Prepare an effective-interest amortization table for the bonds through the first three interest payments. 2. Record Specialty's issuance of the bonds on January 31, 2017, and payment of the first semi-annual interest amount and amortization of the bonds on July 31, 2017. Explanations...
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%
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