ShadyTree Company issued a note receivable to a customer. The face value of the note was $12,000 at 4% interest for 5 months. How much interest revenue should ShadyTree recognize for the entire term of the note? $280 $480 $200 $40

Note Receivable Hasty and Tasty Foodservice received a 120-day, 8% note for $48,000, dated April 9, from a customer on account. Assume 360 days in a year. a.  Determine the due date of the note.  b.  Determine the maturity value of the note.$ c.  Journalize the entry to record the receipt of the payment of the note at maturity. If an amount box does not require an entry, leave it blank.

Entries for Notes Receivable Valley Designs issued a 90-day, 6% note for $48,000, dated April 17, to Bork Furniture Company on account. Assume 360 days in a year when computing the interest. a.  Determine the due date of the note.  b.  Determine the maturity value of the note.$ c.  Journalize the entry to record the receipt of the note by Bork Furniture. If an amount box does not require an entry, leave it blank.                 c2.  Journalize the entry to record the receipt of payment of the note at maturity. If an amount box does not require an entry, leave it blank.

What is the annual rate of interest being charged on a 3-month note receivable of $51,000 if the total interest is $1,530? 22 Multiple Choice 3% O 6% 7% 12% J

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On August 1, Kim Company accepted a 90-day note receivable as payment for services provided to Hsu Company. The terms of the note were $20,000 face value and 6% interest. On October 30, the journal entry for the collection of the note, assuming a 360-day year, should include a a.credit to Interest Revenue for $300 b.credit to Notes Receivable for $20,300 c.debit to Interest Receivable for $300 d.debit to Notes Receivable for $20,000

JAB Consulting received a promissory note of $18,500 at 8% simple interest for 15 months from one of its customers. After 6 months, Grove Isle Bank discounted the note at a discount rate of 5% Calculate the proceeds that JAB Consulting will receive from the discounted note. Step 1 When a promissory note is sold before maturity, it is said to be discounted. The maturity value represents the total amount of money a promissory note will be worth after interest has accrued. The maturity value is calculated as follows where the rate is expressed as a decimal and the time is a fraction whose numerator is the given amount of time in months and denominator is 12 months. maturity value = principal(1 + rate ✕ time) The rate was given to be 8%. As a decimal, we have  8% =  . Find the maturity value (in $) for the promissory note of $18,500 at 8% interest for 15 months. maturity value  =  principal(1 + rate ✕ time)    =  18,500   1 +  ✕  15 12        =  $

Note Receivable Hasty and Tasty Foodservice received a 120-day, 7% note for $84,000, dated June 12, from a customer on account. Assume 360 days in a year. a. Determine the due date of the note. October 10 b. Determine the maturity value of the note. Feedback. c. Journalize the entry to record the receipt'of the payment of the note at maturity. If an amount box does not require an entry, leave it blank. Cash / Notes Receivable / Interest Revenue Feedback, Feedback,

Entries for Notes Receivable Valley Designs issued a 90-day, 8% note for $78,000, dated April 22, to Bork Furniture Company on account. Assume 360 days in a year when computing the interest. a.  Determine the due date of the note. b.  Determine the maturity value of the note. c1.  Journalize the entry to record the receipt of the note by Bork Furniture. If an amount box does not require an entry, leave it blank. c2.  Journalize the entry to record the receipt of payment of the note at maturity. If an amount box does not require an entry, leave it blank.

Akbar Associates issued 120-day note for $50,000 to a creditor on a account. The note was discounted at 6%. Assuming a 360-day year: a. What cash proceeds would Akbar receive from the note? b. How much would Akbar repay the creditor at the note's maturity? =