On December 1, 2024 Modern Deing Products borrowed $97,000 on a 0% 10-year note with annual installment payments of $9 700 plus interest due on December 1 of each succeeding year On December 1.the principal was recorded as aWhat amount of the nole will be shown as portion of20247 (Round your answer to nearest whole number)Nole Payable onOA $19,400OB $15.500OC. $9,700OD $5,820

amount that should be recorded as current= Amount borrowed/ Period of loan

Answered: On December 1,2024, Modern Deing…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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A 12-year promissory note for $650000 issued on August 15, 2012, with interest at 3.5% compounded monthly, was sold on March 15, 2018, at 6% compounded semi-annually. What is the sale price (proceeds) of the note?
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On November 1, 2022, Roberts Inc. provided consulting services in exchange for a one-year, 10% promissory note with a face value of $30,000. The note is interest-bearing. The note’s face value plus accrued interest compounded annually is due to be paid back when the nature matures on November 1, 2023. What should be the amount of “Service Revenue” Roberts recognizes in 2022? $33,000 $30,000 $27,273 $27,000
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On January 1
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On July 1, 2020, ABC Company issued a five-year note payable with a face amount of P5,000,000 and an interest rate of 10%. The terms of the note require ABC Company to make five annual payments of P1,000,000 plus accrued interest with first payment due on June 30, 2021. With respect to the note, the current liabilities section of ABC Company December 31, 2021, balance sheet should include:
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