A one-year, $18,500, 12% note is signed on March 1. If the note is repaid on September 1 of the same year, how much interest expense is incurred?

A promissory note has the following details: Principal: $5,000 . Term: 90 days . Interest: $150 Find the interest rate (Assume a 360- day year).

A company needs to record six months of accrued interest on a four-year, 12%, $12,000 promissory note payable. How much interest expense should be accrued? $2,160 $720 $1,440 $1,080

Jain Enterprises honors a short-term note payable. Principal on the note is $425,000, with an annual interest rate of 3.5%, due in 6 months. What journal entry is created when Jain honors the note?

Sunshine Service Center received a 120-day, 6% note for $40,000, dated April 12 from a customer on account. Assume 360 days per year. a.  Determine the due date of the note.     b.  Determine the maturity value of the note. When required, round your answers to the nearest dollar.$fill in the blank df5724f79f8d02f_2   c.  Journalize the entry to record the receipt of the payment of the note at maturity. If an amount box does not require an entry, leave it blank. Aug. 10   Cash Cash     Note Receivable Note Receivable     Interest Revenue Interest Revenue

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Lone Star Company received a 90-day, 6% note for $80,000, dated March 12 from a customer on account. (Assume a 360-day year when calculating 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 payment of the note at maturity. If an amount box does not require an entry, leave it blank. June 10

On April 1, 20X1, Nelsen Inc. accepts a $100,000, 8% note. The note receivable and interest are due on March 31, 20X2 (one year later). On March 31, 20X2, Nelson Inc. will record interest revenue of​: $2,000. $8,000. $6,000. $0.

On November 1, Alan Company signed a 120-day, 12% note payable, with a face value of $19,800. What is the adjusting entry for the accrued interest at December 31 on the note? (Use 360 days a year.)