ABC Co received from a customer a 3-year non-interest bearing note of P120,000 on Jan 1, 20X1. Effective rate is 10% and collectible in 3 equal annual installments beginning Dec 31, 20X1.   PV of P1 at 10% for 3n=  .75131   PV of an ordinary annuity P1 at 10%  for 3n =2.48685 The entry to record the receipt of the note would include:     Cr Sales 120,000 Cr Notes Receivable  120,000 Dr Notes Receivable  90,157 Cr Unearned interest income 20,526

The interest on a $3,000, 10%, 180-day note receivable is (assume 360 days per year) O $150 O $3.300 O $300 $3000 Onmi ERCO DUTO

The Deposit value on 10/1/20 is 4X. Not 8X.

12.ABC Co received from a customer a 5-year non-interest bearing note of P120,000 on Jan 1, 20X1. Effective rate is 12% and due on Dec 31, 20X5.  PV of P1 at 12% for 5n = .56743  PV of an ordinary annuity of P1 at 12% for 5n = 3.60478The  note would be initially recorded on Jan 1, 20X1 at:     120,000 86,515 68,092

Elaine, Inc. issued a seven-year non-interest-bearing note with a face value of $20,000 and received $13,301. Actuarial information for seven periods is as follows: PV of $1   PV of an Annuity 6% 7% 8%   6% 7% 8% 0.665057 0.622750 0.583490   5.5824 5.3893 5.2064 Refer to Exhibit 14-15. The implied interest rate is

On Jan 1, 20X1, ABC Corp received a P300,000 3-year note from a customer. The principal and interest of the note is collectible annually starting Dec 31, 20X1. Effective interest rate is 10% . How is the value of the note at December 31, 20X1? PV of P1 at 10% for 3n = .75131 PV of ordinary annuity of P1 at 10% for 3n = 2.48685   248,685 200,000 173,553 100,000

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Find the present value and the amount of the annuity at the specified interest rate;  Php 200 quarterly for 19 ½ years ; at (0.045, m = 4) a.) 16 224 and 26 033 b.) 10 349 and 24 767 c.) 9 032 and 22 602 d.) 8 915 and 10 349