Sunland Company sold $131000 of goods and accepted the customer's $131000 10%, 1-year note receivable in exchange. Assuming 10% approximates the market rate of return, how much would be reported for the year ending december 31 if sales was made of june 30? $13100. $0 $3275 $6550
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Sunland Company sold $131000 of goods and accepted the customer's $131000 10%, 1-year note receivable in exchange. Assuming 10% approximates the market
$13100.
$0
$3275
$6550
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- Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual interest rate of 6%, and payable in four months. How much interest will Marathon Peanuts owe at the end of four months? A. $2,600 B. $7,800 C. $137,800 D. $132,600Your company has been offered credit terms on its purchases of 4/30, net 90days. What will be the nominal annual cost of trade credit if your companypays on the 35th day after receiving the invoice? (Assume a 365-day year.)a. 30%b. 304%c. 3%d. 87%e. 156%MULTIPLE CHOICE Milch Corporation sells on terms of net/90. Their accounts receivable are on average 20 days past due. If annual credit sales are P650,000, what is the company’s average investment in accounts receivable? *A. P168,611.11B. P178,611.11C. P188,611.11D. P244,444.00E. P198,611.11
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- 6. GFB Co. buys on terms of 2/15, net 30 days. It does not take discounts, and it typically pays 30 days after the invoice date. Net purchases amount to P730,000 per year. On average, how much "free" trade credit does GFB Co. receive during the year? (Assume a 365-day year.) А. Р30,000 C. P50,000 D. P60,000 E. P70,000 В. Р40,000You purchase a 182-day treasury bill for $240 000 at a rate of 3.546%. What did you sell it for 111 days before maturity if the new interest rate is 3.778%? a. $238 220.20 b. $238 320.20 c. $238 200.20 d. $238 100.20 e. $241 469.24A $10,000 credit supply has the following terms: trade terms are 5/5 net 50, interest rate 8%. What is the amount to pay if the buyer will take the discount and pay on the 5th day of the invoice? A. -14.234 B. -14,250 C. -14.260 D. -14,230
- Given an annual credit sales value of 365 million; accounts receivable beg. 36.5 million, cost of goods sold of 240 million, and beginning inventory of 20 million, how long is the average colelction period? (assume 365 days in a year) a. 30 days b. 55.5 days c. 36.5 days d. 10 days19. Atlanta Cement, Inc. buys on terms of 2/15, net 30. It does not take discounts, and it typically pays 75 days after the invoice date. Net purchases amount to $720,000 per year. What is the nominal annual percentage cost of its non-free trade credit, based on a 365-day year? а. 12.41% b. 9.81% с. 10.55% d. 14.77% е. 13.28%Question: You have a customer who has a 620 fico score and their preferred product requires you to add 1/8th percent to the interest rate of 6 3/4% (30 year fixed rate). What is the P&I payment for this customer if they are putting 10% down on a sales price of $195,000? a. $1,152.91 b. $1,109.28 c. $1,138.29 d. $1,167.61 Please answer with explanation I will really upvote
