Franny Realty loaned money and received the following notes during 2024. (Click the icon to view the notes received.) Read the requirements. Requirement 1. Determine the maturity date and maturity value of each note. (For each applicable note, compute interest using a 365-day year. Round to the nearest dollar.) Note Note (1) Note (2) Note (3) Date Apr. 1 Sep. 30 Jun. 19 Principal Amount 16,000 14,000 20,000 Interest Rate 12% 10% 14% Term 1 year 6 months 180 days Due date Month/Day Year

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Analyzing Interest-Bearing and Noninterest-Bearing Notes Consider the following three separate scenarios for a one-year, $250,000 note payable issued on September 1, 2020. Complete the table, using the straight-line method to amortize any discount on note payable. Note: Round your answers to the nearest whole dollar. Cash received upon note issuance Cash paid at maturity date Total interest paid (cash) Interest expense in fiscal year 2020 Interest expense in fiscal year 2021 Amount of liabilities reported on FYE 2020 balance sheet: Note payable (net) Interest payable *FYE: Fiscal year-end $250,000 Note payable 12% Interest due at maturity 12% market rate Borrower's FYE*: Dec. 31 250,000 $ $250,000 Note payable 10% interest due at maturity 10% market rate Borrower's FYE: Nov. 30 $ $250,000 Note payable Noninterest-bearing 12% market rate Borrower's FYE: Dec. 31 $

1. Compute the amount of interest during 2021, 2022, and 2023 for the following note receivable: On May 31, 2021, Washington State Bank loaned $260,000 to Paul Mara on a two-year, 12% note. 2. Which party has a(n): (a) note receivable? (b) note payable? (c) interest revenue? (d) interest expense? 3. How much in total would Washington State Bank collect if Paul Mara paid off the note early on November 30, 2021? 1. Compute the amount of interest during 2021, 2022, and 2023 for the following note receivable: On May 31, 2021, Washington State Bank loaned $260,000 to Paul Mara on a two-year, 12% note. (Round the interest amounts to the nearest whole dollar.) Year 2021 2022 2023 Amount of interest

1. a)  the amt of interest pd in cash every payment period, 1. b) the amt of amorization to be recorded at each interest payment date.(use the straight -line method

Waterway Company has the following two notes receivable at May 31, 2024, its fiscal year end: 1. 2. $32,400 six-month, 6% note issued January 1, 2024. $12,000 three-month, 4% note issued April 30, 2024. Interest is payable at maturity for both notes. (a) Calculate the accrued interest on both notes at May 31, 2024. (Round answers to the nearest whole dollar, e.g. 5,275.) Note 1: Note 2: Total accrued interest $

Example 4 (Notes Receivable): On November 30, 2020, James Co. lent money to Scott Co. and issued a 5-month, $120,000, 8% note receivable. Scott paid James the full amount of interest and principal on April 30, 2021. What is the journal entry for James Co. to record the issuance of the note receivable? What is the end-of-year adjusting journal entry for James Co. to record interest revenue earned as of December 31?

Required information [The following information applies to the questions displayed below.] On August 1, 2019, Colombo Co.'s treasurer signed a note promising to pay $121,200 on December 31, 2019. The proceeds of the note were $115,800. Required: a. Calculate the discount rate used by the lender. (Enter your answer as a percentage rounded to 1 decimal place (l.e., 32.1).) Discount rate %

Lewis Company had the following transactions involving notes payable. July 01, 2022 ... Borrows $50,000 from First Bank signing a 9-month, 8% note. Nov 01, 2022 ... Borrows $60,000 from Lyon Bank signing a 3-month, 6% note. Dec 31, 2022 ... Prepares annual adjusting entries. Feb 01, 2023... Pays principal and interest to Lyon Bank. Apr 01, 2023... Pays principal and interest to First National Bank. July 01 2022 Nov 01 2022 Dec 31 2022 Feb 01 2023 Apr 01 2023 On day note is created - is there interest exp? Or just the principal? DR 8% int $ DR 6% int $ CR Total $ 2 diff entries! A single CR to for each entry. Each entry pays note principal (can't be more), PLUS interest (and any publ from adj). Interest calc: Principal x Interest % = a full years int exp. BUT, notes often less than a full year. "Term" (length) of the note tells how many of the 12 months (or 365 days) apply. Eliminate any Int Pobl if ADJ were needed cuz some INT EXP is 2022, and some is 2023.