The following interest-bearing promissory note was discounted at a bank by the payee before maturity. Use the ordinary interest method, 360 days, to calculate the missing information. (Round dollars to the nearest cent.) Term of Note (days) Maturity Date Maturity Value (in $) Face Interest Date of Note Value Rate (%) $1,210 7.7 Sept. 19 130 January vv 27 $ 1243.64 Date of Discount Discount Period (days) Discount Proceeds Rate (%) (in $) Dec. 12 11.6 $ 1175.94

Using ordinary interest, 360 days, calculate the missing information for the simple discount note. (Round dollars to the nearest cent.) Discount Date of Maturity Date Bank Discount Proceeds Face Value Term Rate (%) Note (days) (in $) (in $) $73,000 5 May 5 51 --Select--- 2$ $

Vinso

Determine the maturity date and compute the interest of each of the following notes: (use 360 days for interest calculation. Round to the nearest dollar) The options for the shaded blanks A - E are the months January through December.

Tarheel Inc., a calendar year-end company, issued bonds on 1/1/X1. It uses the effective interest method to amortize bond discounts and premiums. The following facts are known about these bonds: Issue Date: 1/1/X1 Face Value: $900,000 Issue Price: $823,000 Face Rate: 4% compounded semi-annually (in other words, 2% every six months) Market (Effective) Rate: 6% compounded semi-annually (in other words, 3% every six months) Term: 5 years Semi-Annual Interest Payment Dates: June 30 and Dec 31 First interest payment will occur on: June 30, 20X1 Note: Round all calculations to the nearest whole dollar. Required: Using the above information, prepare the journal entries to record: (1) the issuance of the bonds and (2) the first cash interest payment on 6/30/X1. Remember to round all amounts to the nearest whole dollar. Decimals or cents should not be shown in the numerical response portion of your journal entry.

Computing Accrued Interest Compute the interest accrued on each of the following notes receivable held by Northland, Inc., on December 31: (Use 360 days for interest calculation. Round to the nearest dollar.) Maker Date ofNote Principal InterestRate Term Maple November 21 $180,000 6% 120 days Wyman December 13 140,000 7% 90 days Nahn December 19 210,000 5% 60 days   Maple: Answer Wyman: Answer Nahn: Answer

1 Required: Complete the following table by computing the missing amounts for the following independent cases. (Do not round intermediate calculations. Round "Annual Interest Rate" to 1 decimal place.) Principal Amount on Notes Annual Interest Time Period Rate Interest Earned Receivable ok a S 65,000 11.4 % 6 months b. $ 43,000 % 9 months $ 3,483 C. 9.3 % 12 months $ 3,069 nces

Calculate the missing information for the loan. Round percents to the nearest tenth and days to the next higner day when hecessary. Maturity Value (in $) Rate Time Interest Principal Interest (%) (days) Method $3,100 167 Exact $220

am. 113.

The following are data on three promissory notes. Determine the missing amounts. (Round answers to O decimal places, e.g. 5,275. Use 360 days for calculation.) Maturity Date of Note Terms Date Principal (a) April 1 60 days $842,400 Annual Interest Rate 5 % $ (b) July 2 30 days 100,800 % (c) March 7 6 months 129,600 10 % $ 67 Total Interest $504