A RO 40000 Interest-bearing note payable is signed on December 26 2020. If the note is a 120-day note what is the maturity date for this short-term liability? a. March 26 b. March 25 c. April 26 d. April 25

EA14. LO 9.6 Arvan Patel is a customer of Bank’s Hardware Store. For Mr. Patel’s latest purchase on January 1, 2018, Bank’s Hardware issues a note with a principal amount of $480,000, 13% annual interest rate, and a 24-month maturity date on December 31, 2019. Record the journal entries for Bank’s Hardware Store for the following transactions. Note issuance Subsequent interest entry on December 31, 2018 Honored note entry at maturity on December 31, 2019. Solution

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The maturity value of a $183,600, 11%, 40-day note receivable dated July 3 is a.$185,844 b.$183,600 c.$192,576 d.$203,796

Interest on note: $1,137.50interest rate: 10%Note dated: 3/17/2024Note due date: 10/13/2024Days in year (ordinary interest) 3601.What is the term of the loan (in days)?2. What is the principal in on the note?

A B E 2 Determine the maturity date and compute interest for each note. 3 Days to be used per year 360 days 4 Note Contract Date Principal Interest Rate Period of Note (Term) 6. 1 1-Mar $10,000 6% 60 days 7 2 15-May 15,000 8% 90 days 8 3 20-Oct 8,000 4% 45 days 9. 10 Required: 11 12 (Use cells A5 to F8 from the given information to complete this question.) 13 14 Note Contract Date Maturity Date Interest Expense 15 16 17 3 18

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Question Content Area On June 8, Williams Company issued an $72,668, 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. $7,993 b. $80,661 c. $72,668 d. $75,332

QUESTION 11 On August 1, 2024, a company lends cash and accepts a $15,000 note receivable that offers 14% interest and is due in nine months. How would the company record the year-end adjusting entry to accrue interest in 2024? (Do not round intermediate calculations. Round your answer to the nearest dollar amount.) O Interest Revenue esc O Interest Receivable. ption Interest Receivable. O Interest Receivable PI Interest Revenue Interest Receivable Interest Revenue. O Interest Revenue 1 A Interest Revenue. Click Save and Submit to save and submit. Click Save All Answers to save all answers. N Interest Receivable p #1 2 W S P 12 command X # 3 E D 8.0 C $ 4 a FA R F 07 20 5 V 2,100 4 FS 875 T 945 875 945 G 0) > A 6 B & F6 875 2,100 Y 945 875 MacBook Air 945 H & 7 8 F7 U N * 8 J DII FB I M ( 9 K DO F9 O < . O L 4 Save All Answers F10 P command I' V 4 I FIL opt