A $20,000, 90-day, 8% note payable was issued on November 1, 2015. Which of the following would be included in the journal entry required on the note's maturity date? Oa credit to note payable for $20,400 Oa credit to cash for $10,000 O a debit to interest expense for $133 Oa debit to interest payable for $133

Sylvestor Systems borrows $161,000 cash on May 15, 2017, by signing a 30-day, 5% note. 1. On what date does this note mature? multiple choice June 13, 2017 June 14, 2017 June 15, 2017 June 16, 2017 June 17, 2017  2. Assume the face value of the note equals $161,000, the principal of the loan. (a) Prepare the journal entry to record issuance of the note.

Instructions Autumn Designs & Decorators issued a 120-day, 7% note for $65,400, dated April 13 to Zebra Furniture Company on account. Required: a. Determine the due date of the note. b. Determine the maturity value of the note. Assume a 360-day year when calculating interest. Do not round your intermediate calculations and round your final answer to the nearest dollar. c. Journalize the entries to record the following: (1) receipt of the note by Zebra Furniture and (2) receipt of payment of the note at maturity. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.

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Journalizing installment notes On the first day of the fiscal year, a company issues $45,000, 8%, six-year installment notes that have annual payments of $9,734. The first note payment consists of $3,600 of interest and $6,134 of principal repayment. a. Journalize the entry to record the issuance of the installment notes. If an amount box does not require an entry, leave it blank. Account Debit Credit Cash Notes Payable Feedback 45,000 Interest Expense 0 Check My Work The cash payment is the same in each year. The interest and principal repayment, however, change each year. This is because the carrying amount (book value) of the note decreases each year as principal is repaid, which decreases the interest. Notes Payable Cash b. Journalize the first annual note payment. If an amount box does not require an entry, leave it blank. Account Credit Debit 0 0 0 X V 0 0 0 X

Maturity Dates of Notes Receivable Determine the maturity date and compute the interest for each of the following notes: (Use 360 days for interest calculation. Round to the nearest dollar.)   Date ofNote Principal InterestRate Term a. August 5 $6,000 8% 190 days b. May 10 16,800 7% 160 days c. October 20 24,000 9% 115 days d. July 06 4,500 10% 130 days e. September 15 9,000 8% 145 days     Maturity Date     Month Day Interest a. Answer Answer Answer b. Answer Answer Answer c. Answer Answer Answer d. Answer Answer Answer e. Answer Answer Answer PreviousSave AnswersFinish attempt ...

Entries for Notes Receivable Valley Designs issued a 90-day, 6% note for $48,000, dated April 17, to Bork Furniture Company on account. Assume 360 days in a year when computing the interest. a.  Determine the due date of the note.  b.  Determine the maturity value of the note.$ c.  Journalize the entry to record the receipt of the note by Bork Furniture. If an amount box does not require an entry, leave it blank.                 c2.  Journalize the entry to record the receipt of payment of the note at maturity. If an amount box does not require an entry, leave it blank.

Chemical Enterprises issues a note in the amount of $156,000 to a customer on January 1, 2018. Terms of the note show a maturity date of 36 months, and an annual interest rate of 8%. Wha is the accumulated interest entry if 9 months have passed since note establishment? $1 $2,000,000 $9,360 $2,992.50

Entries for Notes Receivable Valley Designs issued a 90-day, 8% note for $78,000, dated April 22, to Bork Furniture Company on account. Assume 360 days in a year when computing the interest. a.  Determine the due date of the note. b.  Determine the maturity value of the note. c1.  Journalize the entry to record the receipt of the note by Bork Furniture. If an amount box does not require an entry, leave it blank. c2.  Journalize the entry to record the receipt of payment of the note at maturity. If an amount box does not require an entry, leave it blank.

Journalizing Installment Notes On the first day of the fiscal year, a company issues $26,000, 12%, three-year installment notes that have annual payments of $10,825. The first note payment consists of $3,120 of interest and $7,705 of principal repayment. a. Journalize the entry to record the issuance of the installment notes. If an amount box does not require an entry, leave it blank. Cash V Notes Payable Feedback Check My Work The cash payment is the same in each year. The interest and principal repayment, however, change each year. This is because the carrying amount (book value) of the note decreases each year as principal is repaid, which decreases the interest. b. Journalize the first annual note payment. If an amount box does not require an entry, leave it blank. Interest Expense Notes Payable Cash Feedback Check My Work