Bank A makes a loan of $10,000 to Company B at a 10% interest rate. Which of the following is the correct journal entry for Bank A the day the loan is made? Group of answer choices Option A.)Dr. Cash (+A) $10,000 Cr. Notes Payable (+L) $10,000 Option B) Cr. Notes Payable (+L) $10,000 Dr. Cash (+A) $10,000 Option C) Dr. Notes Receivable (+A) $10,000 Cr. Cash (-A) $10,000 Option D) Dr. Notes Receivable (+A) $11,000 Cr. Cash (-A) $11,000    ANSWER BEFORE 11:30!!

West County Bank agrees to lend Wildhorse Co. $472000 on January 1. Wildhorse Co. signs a $472000, 6%, 6-month note. What entry will Wildhorse Co. make to pay off the note and interest at maturity assuming that interest has been accrued to June 30? Notes Payable 486160        Cash   486160 Interest Payable 7080   Notes Payable 472000   Interest Expense 7080        Cash   486160 Notes Payable 472000   Interest Payable 14160        Cash   486160 Interest Expense 14160   Notes Payable 472000        Cash   486160

Enter your dollar answers rounded to the nearest two cents and precede numbers that are less than zero (0) with a minus sign (–).) Buy On Time or Pay Cash Cost of Borrowing       1. Terms of the loan       a. Amount of the loan $10,000.00     b. Length of the loan (in years) 5     c. Monthly payment $188.70   2. Total loan payments made       ($  per month  months)   $   3. Less: Principal amount of the loan   $   4. Total interest paid over life of loan   $   5. Tax considerations:       – Is this a home equity loan? no     – Do you itemize deductions on your federal tax return? yes   6. What federal tax bracket are you in? 35%   7. Taxes saved due to interest deductions       ($  x %)   $   8. Total after-tax interest cost on the loan   $   Cost of Paying Cash       9. Annual interest earned on savings       (6% x )   $   10. Annual after-tax interest earnings       ($  x %)   $   11. Total after-tax interest earnings…

eBook Show Me How Proceeds from Notes Payable On January 26, Vibrant Co. borrowed cash from Conrad Bank by issuing a 60-day note with a face amount of $39,600. Assume a 360-day year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 6%. b. Determine the proceeds of the note, assuming the note is discounted at 6%. Check My Work Email Instructor Save and Exit Previous Submit Assignme

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choose the letter of the correct answer Company A borrows P500,000.00 from the bank and is required to maintain a 15% compensating. Further, Wilson has an unused line of credit of P200,000.00, with a required 11% compensating balances. What is the total required compensating balance the firm must maintain a. P75,000.00b. P22,000.00c. P97,000.00d. P182,000.00

You have just been hired as a loan officer at a national bank. Your first assignment is to calculate the amount of the periodic payment (in $) required to amortize (pay off) the following loan being considered by the bank (use Table 12-2). (Round your answer to the nearest cent.) Payment Period Nominal Rate (%) Loan Term of Present Value Payment Loan (years) (Amount of Loan) every month 6 $40,000 4 %24

Date Transaction description Obtained a loan of $41,000 from Earth Bank at a simple interest rate of 6% per year. The first interest payment is due at the end of August 2021 and the principal of the loan is to be repaid on June 1, 2024. Paid the full amount owing to Sport Borders, Check No. 603. Payment fell within discount period. Paid the full amount owing to J. J. Spud, Check No. 604. Payment fell within discount period. Made cash sales of $4,184 during the first 3 days of the month. 2 3 Purchased 6 Downhill Snowboards from Good Sports for $180 each, terms 2/10, n/30. Sold 6 Tony Eagle Mark 3 Freestyle Skateboards to Balls 'n All for $204 each, Invoice No. 501. Purchased 5 Freestyle Snowboards with cash for $170 each, Check No. 605. Purchased 5 Pipe Dream surfboards from Sports 'R Us for $150 each, terms net 30. 4 4. 7 After completing this practice set page, you should know how to record basic transactions in the journals provided below and understand the posting process in the…

Only typed answer On May 4​, a company accepted an ​$8200 note in settlement of a bill. The note was for 190 days at 8.75​% simple interest. If the company sells the note to a loan company at a 12.0​% discount 60 days after​ receipt,   the bank discount?   The proceeds are?