Crane Taco Company receives a $94.500, 6-year note bearing interest of 8% (paid annually) from a customer at a time when the discount rate is 10%. Click here to view the factor table. What is the present value of the note received by Crane? (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round answer to 2 decimal places, eg. 25.25) Present value of note received $

JAB Consulting received a promissory note of $18,500 at 8% simple interest for 15 months from one of its customers. After 6 months, Grove Isle Bank discounted the note at a discount rate of 5% Calculate the proceeds that JAB Consulting will receive from the discounted note. Step 1 When a promissory note is sold before maturity, it is said to be discounted. The maturity value represents the total amount of money a promissory note will be worth after interest has accrued. The maturity value is calculated as follows where the rate is expressed as a decimal and the time is a fraction whose numerator is the given amount of time in months and denominator is 12 months. maturity value = principal(1 + rate ✕ time) The rate was given to be 8%. As a decimal, we have  8% =  . Find the maturity value (in $) for the promissory note of $18,500 at 8% interest for 15 months. maturity value  =  principal(1 + rate ✕ time)    =  18,500   1 +  ✕  15 12        =  $

Please see below. I need help with the part a2.

Akbar Associates issued 120-day note for $50,000 to a creditor on a account. The note was discounted at 6%. Assuming a 360-day year: a. What cash proceeds would Akbar receive from the note? b. How much would Akbar repay the creditor at the note's maturity? =

answer in text form please (without image)

4. AB company receives $10,000 for a 6 month, 8% note on 11/1/20. Prepare the journal entry for the receipt. Account Debit Credit 5. Prepare the journal entry to accrue interest on the above note at 12/31/20. Account Debit Credit 6. Prepare the entry to record payment of the above note in full on it's due date of 5/1/21. Account Debit Credit 7. AB Company purchases a truck in the amount of $15,000. Additional costs include sales tax of $1500, painting of $2500, license of $150 and a 1 year auto insurance policy of $1200. Complete the journal entry for the auto purchase. Account Debit Credit

Nelson Co. issued a $80,000, 90-day, discounted note to Community Bank. The discount rate is 5%. At maturity, assuming a 360-day year, the borrower will pay how much?

1. What are all the journal entries? 2. How muh is the interest expense in 20x2? 3. How much is the carrying amount of the note in dec. 31, 20x1?

Assuming a 360-day year, proceeds of $47,444 were received from discounting a $48,147, 90-day note at a bank. The discount rate used by the bank in computing the proceeds was a. 7.59% Ob. 7.08% Oc. 5.84% Od. 3.84%

Assuming a 360-day year, proceeds of $43,722 were received from discounting a $44,958, 90-day note at a bank. The discount rate used by the bank in computing the proceeds was O a. 12.24% b. 11.00% c. 9% Od. 12.75%