mpany is required ‭ maintain a compensating  balance of P50,000 in a checking account. The company's checking account earns interest  at an annual rate of 2%. Ordinarily the company  maintains  balance of P25,000  in its checking account  for transaction purposes. What is the effective interest rate of the loan?

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

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On December 1, 2020, RB Company assigned on a non-notification basis accounts receivable of Php6,000,000 to a bank in consideration for a loan of 80% of the accounts less a 5% service fee on the accounts assigned. The entity signed a note for the bank loan. On December 31, 2020, the entity collected assigned accounts of Php2,000,000 less discount of Php200,000. The entity remitted the collections to the bank in partial payment for the loan. The bank applied first the collection to the interest and the balance to the principal. The agreed interest is 1% per month on the loan balance. The entity accepted sales returns of Php100,000 on the assigned accounts and wrote off assigned accounts totaling Php300,000. What is the equity of the assignor in assigned accounts on December 31, 2020?

8. The following information about Lapus Incorporation that borrows by pledging its receivables are as follows: Average balance of accounts receivable Annual receivables turnover (360/ACP) Administrative fee charged on all new receivables Interest rate on outstanding loans Percent of receivables accepted What is the effective cost of financing stated as an annual rate? a. 12.0% b. 14.0% c. 21.6% d. 24.0% P100,000 6x 2% 12% 80%

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$120,000 of its accounts receivable to 2nd National Bank as collateral for a $70,000 loan due August 1 of the same year. The assignment agreement calls for Bay Co. to continue to collect the receivables. The bank assesses a finance charge of 3% of the accounts receivable. The interest rate on the loan is 8% which is a realistic interest rate for this type of loan. Prepare the journal entry that Bay Co. would make on February 1 Prepare the journal entry for Bay's collection of $50,000 of the receivables between February 1 and July 31. Prepare the journal entry to record Bay Co.'s payment to the bank.