If the face value of a notes receivable is greater than its present value, which would most likely appear in the journal entry in the amortization? a. Cr. Premium on Notes Receivable b. Dr. Discount on Notes Receivable c. Dr. Premium on Notes Receivable d. Cr. Discount on Notes Receivable

9. Face value of a note payable plus interest is called Omaturity value. O face value. Oproceeds. Oprincipal.

31.The actual interest rate charged on a discounted note is called the _____ interest rate. a.effective b.discount c.simple d.ordinary

Question 3

A. Amount of interest charge for each note B. Amount boweower would receive C. Amount payer would receive at maturity D. Effective rate

2.-In compound interest calculations, the interest rate applied can be known from the initial and final value of a deposit, and the time it was deposited. true or false?

A design studio received a loan of $4,250 at 3.90% compounded semi-annually to purchase a camera. If they settled the loan in 3 years by making quarterly payments, construct the amortization schedule for the loan and answer the following questions: a. What was the payment size? Question 4 of 6 Round to the nearest cent b. What was the size of the interest portion on the first payment?

How does the amortization of the discount on a note payable affect a company's financial statements? Multiple Choice Increases interest expense and decreases liabilities Increases interest expense and increases liabilities О Decreases interest expense and increases liabilities Decreases interest expense and decreases liabilities

The maturity value of a note receivable is equal to the sum of the face amount of the note O plus the interest O plus nothing else O none of these answers are correct Ominus the interest

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