Details of Notes Receivable and Related Entries Gen-X Ads Co. produces advertising videos. During the current fiscal year, Gen-X Ads Co. received the following notes:   Date Face Amount Interest Rate Term 1. Apr. 10 $90,000   4%   60 days 2. June 24 15,600   6   30 days 3. July 1 27,000   6   120 days 4. Oct. 31 27,000   9   60 days 5. Nov. 15 54,000   6   60 days 6. Dec. 27 108,000   4   30 days Required: Assume 360 days in a year. 1.  Determine for each note (a) the due date and (b) the amount of interest due at maturity, identifying each note by number. Note (a) Due Date (b) Interest Due at Maturity (1) June 9  $   (2) July 24      (3) Oct. 29      (4) Dec. 30      (5) Jan. 14      (6) Jan. 26      2.  Journalize the entry to record the dishonor of Note (3) on its due date. If an amount box does not require an entry, leave it blank or enter "0". Oct. 29  Accounts Receivable        Notes Receivable        Interest Revenue      3.  Journalize the adjusting entry to record the accrued interest on Notes (5) and (6) on December 31. Dec. 31 Interest Receivable        Interest Revenue      4.  Journalize the entries to record the receipt of the amounts due on Notes (5) and (6) in January. If an amount box does not require an entry, leave it blank or enter "0". Jan. 14 Cash        Notes Receivable        Interest Receivable        Interest Revenue      Jan. 26 Cash        Notes Receivable        Interest Receivable        Interest Revenue

Use the journals provided in the assignment file to journalize the notes receivable transactions below. Nov. 2 - Received cash for the maturity value of a notes receivable for $400.00 plus $15.00 interest. Receipt 49 Nov. 10 - Accepted a 60-day, 9% note from Paula Jones for an extension of time on her account, $2,000.00. Note NR13 Nov. 20 - Accepted a 90-day, 8% note from George Robbins for an extension of time on his account, $3,000.00. Note NR14 Nov. 27 - Received cash for the maturity value of a notes receivable for $1,000.00 plus $30.00 interest. Receipt 51

Calculate the missing information on the revolving credit account. Interest is calculated on the unpaid or previous month's balance. PreviousBalance AnnualPercentageRate (APR) MonthlyPeriodicRate(as a %) FinanceCharge(in $) Purchasesand CashAdvances PaymentsandCredits NewBalance(in $) $1,026.61   1.75%   $322.20 $300.00   Step 1 In the credit account statement below, the values of the annual percentage rate (APR), finance charge, and the new balance must be calculated. PreviousBalance AnnualPercentageRate (APR) MonthlyPeriodicRate(as a %) FinanceCharge(in $) Purchasesand CashAdvances PaymentsandCredits NewBalance(in $) $1,026.61   1.75%   $322.20 $300.00   Recall that the annual percentage rate (APR) is tied to the monthly periodic rate by the following formula. monthly periodic rate =  APR 12 By solving this equation for the APR, the known value for the monthly periodic rate can be substituted to calculate the APR. APR = monthly periodic rate ✕ 12 The…

On May 22, Jarrett Company borrows 9, 200, signing a 90-day, 7% $9, 200 noteWhat is the journal entry made by Jarrett Company to record the payment of the note on the maturity date? Choice Notes Payable $9,200, credit interest Expense $161 credit Cash $9,039 Notes Payable 9.200 credit Cash $9.200 Debit Notes Payable $9,361, credit Cash $9.361

Calculate the due date, interest due, and maturity value of the following notes:                                         Date of Note Face Amount Interest Rate Term of Note Due Date Interest Due Maturity Value   a. 24-Apr $70,000 3% 60 days         b. 13-Jul 30,000 5% 120 days         c. 9-Aug 40,000 4% 45 days         d. 12-Sep 60,000 8% 90 days         e. 5-Nov 50,000 6% 30 days

please answer do not image format

Calculate the missing information on the revolving credit account. Interest is calculated on the unpaid or previous month's balance. PreviousBalance AnnualPercentageRate (APR) MonthlyPeriodicRate(as a %) FinanceCharge(in $) Purchasesand CashAdvances PaymentsandCredits NewBalance(in $) $45.00 12% % $ $176.20 $55.00 $

Bramble Corp. lends Sheffield Corp. $50400 on April 1, accepting a four-month, 9% interest note. Bramble Corp. prepares financial statements on April 30. What adjusting entry should be made before the financial statements can be prepared? O Interest Receivable 378 Interest Revenue 378 Interest Revenue 80 Cash Note Receivable Cash Interest Receivable Interest Revenue Type here to search 378 50400 1134 S 378 50400 1134 17

.

Calculate the due date, interest due, and maturity value of the following notes:                                         Date of Note Face Amount Interest Rate Term of Note Due Date Interest Due Maturity Value   a. 24-Apr $70,000 3% 60 days         b. 13-Jul 30,000 5% 120 days         c. 9-Aug 40,000 4% 45 days         d. 12-Sep 60,000 8% 90 days         e. 5-Nov 50,000 6% 30 days