FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Maturity Dates of Notes Payable
Determine the maturity date and compute the interest for each of the following notes payable with add-on interest:
Use 360 days for calculations and round to the nearest dollar.

  Date of note Principal Interest Rate (%) Term
a. August 5 $17,000 8%   120 days
b. May 10 10,400 7%   90 days
c. October 20 14,000 9%   60days
d. July 6 6,500 10%   75 days
e. September 15 15,500 8%   75 days

 

For the maturity date, select the appropriate month using the drop-down menu and enter the correct day next to the month using the fill-in the blank answer box.

  Maturity Date   Interest
a. Answer Answer Answer
b. Answer Answer Answer
c. Answer Answer Answer
d. Answer Answer Answer
e. Answer Answer Answer
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