On December 12, Lowell Corporation accepted a $160,000, 120-day, non-interest-bearing note from Able.com. What is the maturity value of the note? Maturity value
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A: Maturity value of note = Face value of note + interest = P500000 + 500000*8%*12/12 = P540000
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A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…
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A: Maturity value of the note = Face value of the not + Interest on the note = 7000000 +…
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A: Interest on note = Face value of notes x rate of interest x no. of days / 360 days = $80,400 x 7% x…
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A: Answer a) Due date =August 11 17+31+30+31+11
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A: Solution : Given Face value =P500,000 interest rate =10% discount rate = 12 % date…
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A: LiabilitiesLiabilities are referred to as the obligations of the business towards the creditors for…
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A: Discounting seems to be the act of transferring or surrendering a customer's notes receivable to a…
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A: The balance sheet represents the financial position of the business The note payable is recorded as…
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A: Interest amount=P6000000×0.10×912=P350,000
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A: Maturity value of the note = Face value + interest = 4000000+4000000*8%*90/360 = 4080000
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A: As per our protocol we provide solution to the one question only but you have asked two questions…
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A: Answer: Option c.
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What maturity value of the note?
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- On October 18, Blue Ridge Corporation accepted a $300,000 non-interest-bearing note from Long Corporation. What is the maturity value of the note? Use ordinary interest. Maturity ValueA business issued a 45-day, 6% note for $210,000 to a creditor. Principal and interest are payable at maturity. How is maturity value calculated in this case? What is the maturity value of the note?On December 12, Lowell Corporation accepted a $160,000, 120-day, non-interest-bearing note from Able.com. What is the maturity value of the note? Maturity value
- On May 1, the Morse Company accepted a 60-day, $15,000 non-interest-bearing note from U Corporation. What is the maturity value of the note?On June 8, Williams Company issued an $74,068, 8%, 120-day note payable to Brown Industries. Assuming a 360-day year for your calculations, what is the maturity value of the note? When required, round your answer to the nearest dollar. a.$79,993 b.$76,043 c.$74,068 d.$5,925On March 11, 2022, FDNÁCCT Services issued to a lender a 120-day, non- interest-bearing P400,000 note for a down payment to purchase a delivery van. When was the maturity date of the note? Enter your answer as month/day/year. Examples: April 2, 2022 as 04/02/2022 [no spaces in between the /] May 15, 2022 as 05/15/2022 [no spaces in between the /]
- On June 8, Williams Company issued an $70,538, 11%, 120-day note payable to Brown Industries. Assuming a 360-day year, what is the maturity value of the note? When required, round your answer to the nearest dollar. a. $70,538 b. $73,124 c. $7,759 d. $78,297On June 8, Williams Company issued an $75,972, 6%, 120-day note payable to Brown Industries. Assuming a 360-day year, what is the maturity value of the note? When required, round your answer to the nearest dollar. Oa. $75,972 Ob. $77,491 Oc. $80,530 Od. $4,558 > Other fav tOn June 8, Williams Company issued an $75,972, 6%, 120-day note payable to Brown Industries. Assuming a 360-day year, what is the maturity value of the note? When Ⓒ required, round your answer to the nearest dollar. O a. $75,972 Ob. $77,491 Oc. $80,530 Od. $4,558 Next
- On January 1, 2022, Easy Company sold merchandise for 500,000 by accepting a note for 6 months with interest to be paid at maturity at 12%. On March 1, the entity discounted the note without recourse at a bank with a 15% discount. How much is the maturity value of the notes receivable?29.On September 12, 2021, an entity received a 120-day, 9% note for P50,000 for an overdue account from a customer. The entity uses an accounting year that ends on December 31. Which of the following statements is true? Use 360-day year.A. The maturity date of the note is January 12, 2022.B. The maturity value of the note is P51,500.C. Accrued interest on the note at December 31, 2021 is P1,375. a. A, B, and C b. A and B only c. B and C only d. B onlyOn November 1, 2021, FDN Trading accepted a 90-day, 8% P8,000,000 note from ABC Co. FDN immediately discounted with recourse the note to a bank that offers a 12% discount rate. FDN assumes the interest expense associated with this transaction. How much interest expense should FDN Trading debit on its records? Calculate the total interest expense and NOT the net interest expense.