calculate maturity value
a) 20000*12%*90/360+20000 = 20600
b) 12000*10%*120/360+12000 = 12400
c) 15000*8%*60/360+15000 = 15200
d) 25000*6%*90/360+25000 = 25375
Problem 3 Compute the maturity values of the following Note Receivable $20,000, 12%, 90 day note. S12,000, 10%, 120...
1. If a 90-day, $5000, 6%, note receivable is dated July 12, what is the maturity date of the note and what is the interest? (2 points) 2. If a 60-day, $8.000. 3% note receivable is dated September 22, what is the maturity date of the note? (2 points)
Reload this page Naturtyates of Notes Receivable Determine the maturity date and compute the interest for each of the following notes: (Round to the nearest dollar.) Date of Note a. August 5 b. May 10 C. October 30 d. July 6 e. September 15 Principal $20,000 50,400 Interest Rate 8% 7% 9% 11% 8% Term 120 days 90 days 45 days 60 days 60 days 72,000 13,750 27,000 Maturity Date Month Day Interest 0 $ 0 ف ن ت نه
Chapter 8 Practice Problems Problem #11 - Notes Receivable ABC Company had a 90-day, 4.5% note for $600,000, dated January 10 from a customer on account. 1) Determine the maturity date for the note. 2) Determine the maturity value of the note. 3) Prepare journal entries for the receipt of the note on January 10, and the receipt of the cash on the maturity date of the note. Problem #12 - Notes Receivable ABC Company had a 180-day, 5% note...
Maturity Dates of Notes Receivable Determine the maturity date and compute the interest for each of the following notes: (Round to the nearest dollar.) Date of Interest Note Principal Rate Term a. July 10 $7,200 94 90 days b. April 25 12,000 5 120 days May 19 11,200 7% 120 days d June 10 5.400 1145 days e. October 29 30,000 6% 75 days Maturity Date Month Day Interest Check Previous Save Answers
Question 6 Tries remaining: 1 Marked out of 2.00 P Hag question Maturity Dates of Notes Receivable Determine the maturity date and compute the interest for each of the following notes: (Round to the nearest dollar.) Date of Interest Note Principal Rate Term a. August 5 $20,000 8% 120 days b. May 10 50,400 7% 90 days c. October 30 72,000 9% 45 days d. July 6 13,750 11% 60 days e. September 15 27,000 8% 60 days Maturity Date...
21&23 please D) asset valuation. el. The maturity value of a $50,000, 9%, 60-day note receivable dated July 3 is A) S50,000. B) $50,750. C) $54,500 D) $59,000. 22. Which one of the following is not a primary problem associated with accounts receivable? A) Depreciating accounts receivable B) Recognizing accounts receivable C) Valuing accounts receivable D) Disposing of accounts receivable 23. A 60-day note receivable dated July 13 has a maturity date of A) September 12. B) September 11. C)...
Maturity Dates of Notes Receivable Determine the maturity date and compute the interest for each of the following notes: (Round to the nearest dollar.) Date of Interest Principal Rate Note Term 90 days $7,200 а. July 10 9% 5% 120 days b. April 25 12,000 7% 120 days C. May 19 11,200 45 days d. June 10 5,400 11% 75 days e. October 29 30,000 6%
The maturity value of a $208,637, 10%, 40-day note receivable dated July 3, assuming a 360-day year, is $208,637 $217,910 $210,955 $229,501
QS 9-11 Note receivable LO C2 On August 2, Jun Co. receives a $6,600, 90-day, 12% note from customer Ryan Albany as payment on his $6,600 account receivable. 1. Compute the maturity date for the above note. October 29 October 30 October 31 November 1 November 2 2. Prepare Jun's journal entry for August 2
Note Receivable Quick Tire and Lube received a 120-day, 6% note for $84,000, dated April 9, from a customer on account. Assume 360 days in a year. a. Determine the due date of the note. b. Determine the maturity value of the note. C. Journalize the entry to record the receipt of the payment of the note at maturity. If an amount box does not require an entry, leave it blank.