Domestic On December 1, 2021, your company borrowed $46,500, a portion of which is to be repaid each year on November30. Specifically, your company will make the following principal payments: 2022, $6,200; 2023, $9,300; 2024,$12,400; and 2025, $18,600. Show how this loan will be reported in the December 31, 2022 and 2021 balancesheets, assuming principal payments will be made when required.Total LiabilitiesBalance Sheet (Partial)As of December 3120222021

On December 31, 2021: $46,500 is payable; $6,200 in 2022 and the remaining later. So amount payable…

Answered: On December 1, 2021, your company…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 36P

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the pita pit borrowed 197000 on november 1 2021 and signed a six month note bearing interest at 12%. principal and interest are payable in full at maturity on may 1 2022 in connection with this note. the pita pit should report interest expense at december 31 2021 in the amount of.
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How much shall be reported as interest income for 2022? ALVR Digital Bank granted a loan to a client on January 1, 2022. The interest on the loan is 12% payable annually starting December 31, 2022. The loan matures in three years on December 31, 2024. Pertinent information on the loan is provided below: Principal amount Origination fee received from the borrower Direct origination cost Indirect origination cost incurred After considering the origination fee received from the borrower and the direct origination cost incurred, the effective rate on the loan is 9%. 1,000,000 44,900 120,856 12,000 O 90,000 O 96,836 O 120,000 O 129,115 O Answer not given
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