Principal Interest Rate Date of Note Term Maturity Date Maturity Value Date of Discounting Discount Period Discount Rate Disount 40,000 10.40% 12/12 50 days ? ? 01/19 (?) days 15 % ? Net proceeds Accrued Interest Carrying Amount Gain/Loss on Discounting ? ? ? ? Thank you for helping me.

Principal Interest Rate Date of Note Term Maturity Date Maturity Value Date of Discounting Discount Period Discount Rate Disount 40,000 10.40% 12/12 50 days ? ? 01/19 (?) days 15 % ? Net proceeds Accrued Interest Carrying Amount Gain/Loss on Discounting ? ? ? ? Thank you for helping me.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter17: Accounting For Notes And Interest

Section: Chapter Questions

Problem 2SEB: CALCULATING INTEREST Using 360 days as the denominator, calculate interest for the following notes...

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Question

100%

Instructions:

Fill in the missing information.

1. Missing Dates: Encode the date in this format: mm/dd

2. Monetary values: Round-off the monetary figures to two decimal places

Use 360 days=1 year in computing for interest

Principal	Interest Rate	Date of Note	Term	Maturity Date	Maturity Value	Date of Discounting	Discount Period	Discount Rate	Disount
40,000	10.40%	12/12	50 days	?	?	01/19	(?) days	15 %	?

Net proceeds	Accrued Interest	Carrying Amount	Gain/Loss on Discounting
?	?	?	?

Thank you for helping me.

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