Accrued Interest Payable Com

Determine Due Date and Interest on Notes 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 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 November 20 27,000 60 days е. *Assume that February has 28 days. Assume 360-days in a year when computing the interest. Note Due Date Interest a. С. d. е. II b.

Accrued Interest Receivable The following is a list of outstanding notes receivable as of December 31, 20--: Maker Date of Note Principal Interest Term No. of Days K. Savelin 12/15/-- $1,500    5% 60 days 16 R. Hillier 12/3/-- 4,800    6 90 28 B. Miranda 11/30/-- 3,200    8 90 31 R. Hansen 11/18/-- 7,300    7 120 43 Required: Question Content Area 1.  Compute the accrued interest at the end of the year. Round interim calculations and final answer to the nearest cent. Assume 360 days in a year.

Proceeds from Notes Payable On January 26, Elegant Co. borrowed cash from Conrad Bank by issuing a 60-day note with a face amount of $94,800. Assume a 360-day year. a.  Determine the proceeds of the note, assuming the note carries an interest rate of 9%.________________ b.  Determine the proceeds of the note, assuming the note is discounted at 9%.________________

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 6 b. March 23 40,000 9,000 9% 45 days 10 60 days c. May 30 12,000 12 90 days d. August 30 18,000 10 120 days e. October 1 10,500 8 60 days Due Date Interest a. Feb. 20 b. May 22 c. Aug. 28 d. Dec. 28 e. Nov. 30

Proceeds from Notes Payable On January 26, McMaster Co. borrowed cash from Quantum Bank by issuing a 45-day note with a face amount of $324,000. Assume a 360-day year. Required: a.  Determine the proceeds of the note, assuming that the note carries an interest rate of 10%.$ b.  Determine the proceeds of the note, assuming that the note is discounted at 10%.$

Entries for notes payable A business issued a 60-day, 15% note for $85,000 to a creditor on account. Journalize the entries to record (a) the issuance of the note and (b) the payment of the note at maturity, including interest. Assume a 360 days in a year. If an amount box does not require an entry, leave it blank. If required, round yours answers to whole dollar.

Details of Notes Receivable and Related Entries Gen-X Ads Co. produces advertising videos. During the current fiscal year, Gen-X Ads Co. received the following notes:   Date Face Amount Interest Rate Term 1. Apr. 10 $90,000   4%   60 days 2. June 24 15,600   6   30 days 3. July 1 27,000   6   120 days 4. Oct. 31 27,000   9   60 days 5. Nov. 15 54,000   6   60 days 6. Dec. 27 108,000   4   30 days Required: Assume 360 days in a year. 1.  Determine for each note (a) the due date and (b) the amount of interest due at maturity, identifying each note by number. Note (a)Due Date (b)Interest Due at Maturity (1) June 9  $   (2) July 24      (3) Oct. 29      (4) Dec. 30      (5) Jan. 14      (6) Jan. 26      2.  Journalize the entry to record the dishonor of Note (3) on its due date. If an amount box does not require an entry, leave it blank or enter "0". Oct. 29  Accounts Receivable        Notes Receivable        Interest Revenue…

Proceeds from Notes Payable On January 26, Nova Co. borrowed cash from Conrad Bank by issuing a 60-day note with a face amount of $37,200. Assume a 360-day year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 10%. b. Determine the proceeds of the note, assuming the note is discounted at 10%.

Proceeds from Notes Payable On January 26, Nova Co. borrowed cash from Conrad Bank by issuing a 60-day note with a face amount of $37, 200. Assume a 360-day year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 6%. Sfill in the blank 1 b. Determine the proceeds of the note, assuming the note is discounted at 6%. Sfill in the blank 2