A 90-day note is signed on October 21. The due date of the note is: ◇ January 19 ◇ January 21 O January 20 ◇ January 18
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- 16. For the following notes, calculate the due date. Date of Note Term of Note Due Date 1. Apr. 18 82 days _________ 2. Aug. 22 5 months _________ 3. Sep. 11 110 days _________ 17. A 100-day note with a face amount of $54,000 and interest rate of 9% is issuedon June Compute the following using a 360-day year: a. Maturity value of the note $___________ b. Maturity date___________ c. Interest$___________ 2.The note is discounted on July 1. The bank discount rate is 12%. Compute the following: a. Number of days in the discount period ___________ b. Discount amount$___________ c. Proceeds$___________What is the due date of a $12,000 90-day, 8% note receivable dated August 5?Can the 10,000 note be repaid on May 1? Explain.
- Determine the due date and the amount of interest due at maturity on the following notes: Date of Note Face Amount Interest Rate Term of Note a. January 5 * $90,000 6% 120 days b. February 15 * 21,000 4 30 days c. May 19 68,000 8 45 days d. August 20 34,400 5 90 days e. October 19 50,000 7 90 days * Assume a leap year in which February has 29 days. Assume 360 days in a year when computing the interest. Jan. 17 Mar. 16 May 4 July 3 Nov. 18 Note Due Date Interest (a) $fill in the blank 2 (b) $fill in the blank 4 (c) $fill in the blank 6 (d) $fill in the blank 8 (e) $fill in the blank 10Term of a Note Calculate total time in days for the following notes. (Assume there are 28 days in February.) Date of Note Due Date Time in Days May 9 July 17 67 x August 18 October 1 40 х July 7 September 5 55 X December 14 February 5 51 X March 29 Мay 16 50 X January 8 March 18 69Determine the due date and the amount of interest due at maturity on the following notes: Date of Note Face Amount Interest Rate Term of Note a. January 10* $40,000 5% 90 days b. March 19 18,000 8 180 days c. June 5 90,000 7 30 days d. September 8 36,000 3 90 days e. November 20 27,000 4 60 days *Assume that February has 28 days. Assume 360-days in a year when computing the interest. Note Due Date Interest a. $fill in the blank 2 b. fill in the blank 4 c. fill in the blank 6 d. fill in the blank 8 e. fill in the blank 10
- What is the amount of interest revenue that must be accrued on December 31st for a nine-month, 6%, $2,000 note receivable that was accepted on November 1st? what is the interest accrued?What is the due date of a 90-day, 15% note for 100.000 TL issued on July 17, 2019? a. Oct 14 b. Oct 17 c. Oct 16 O d. Oct 15On 1st July 2020 Suntek LLC has accepted a note receivable for RO 4000 from one of the accounts receivables. The maturity period is 6 months. The interest rate is 10%. The amount of interest to be recorded in account on 31 December will be a. RO 500 b. RO 400 c. RO 300 d. RO 200
- On 1st July 2020 Star LLC has accepted a note receivable for RO 2000 from one of the accounts receivables. The maturity period is 60 days . The interest rate is 10%. The amount of interest to be recorded in account on 31 December will be. a. RO 22 b. RO 32.87 c. RO 24 d. RO 33.97On 5th October 2020 Mazoon LLC has accepted a note receivable from one of the accounts receivables. The maturity period is three months. The maturity date will be. a. 3rd December 2020 b. 5th January 2021 c. 3rd January 2021 d. 5th December 2020Determine the due date and the amount of interest due at maturity on the following notes: Date of Note Interest Rate Term of Note Face Amount 90 days 180 days January 10* $40,000 5% a. b. March 19 18,000 8 30 days 90 days 60 days June 5 90,000 C. d. 36,000 September 8 3 November 20 27,000 4 e. *Assume that February has 28 days.