Calculate the short-rate premium and refund of the following: (Use Table 20.4.) ****TABLE ATTACHED**** Annual premium Canceled after Short-rate premium Refund $360 4 months by insurance company

24. SIMPLE DISCOUNT RATE A plumbing contractor receives proceeds of $4713.54 on a 12.5% simple discount note with a face value of $5000. Find the time of the note in days.

A consumer loan of 1000 is being repaid with 24 monthly installments of 50 at the end of each month. Rather than making payments as originally scheduled, the borrower repaid the outstanding principal immediately after the 10th regular installment. Determine the unearned finance charge recovered by the borrower. A. 200.00 B.116.65 C. 83.35 D. 73.40 E. 67.85

Journalize the following entries on the books of the borrower and creditor.  Label accordingly. (Assume a 360-day year is used for interest calculations.) ​ June    1 James Co. purchased merchandise on account from O’Leary Co., $90,000, terms n/30.  The cost of merchandise sold was $54,000.          30 James Co. issued a 60-day, 5% note for $90,000 on account. Aug. 29 James Co. paid the amount due.

Using the unpaid balance method, find the current month's finance charge on a credit card account having the following transactions. Last month's balance: $615 Last payment: $80 Annual Interest rate: 21% Purchases: $484 Returns: $545 The finance charge is $___ (Round to the nearest cent.)

Notes Receivable Water Closet Co. wholesales bathroom fixtures. During the current year ending December 31, Water Closet received the following notes:   Date of Note Face Amount Interest Rate Term 1. March 6 $75,000   4 % 60 days   2. April 7 40,000   6   45 days   3. August 12 36,000   5   120 days   4. October 22 27,000   8   30 days   5. November 19 48,000   3   90 days   6. December 15 72,000   5   45 days   Instructions 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 Dueat Maturity 1.   $fill in the blank 2   2.   fill in the blank 4   3.   fill in the blank 6   4.   fill in the blank 8   5.   fill in the blank 10   6.   fill in the blank 12   2.  Illustrate the effects on the accounts and financial statements of the receipt of the amount due on Note 3 at its maturity. If no account or activity is…