 |
|
| Browse | Ask | Answer | Search | Join/Login |
|
|
||||
|
Notes receivable calculations?
Determine the maturity date, interest in 2010 and 2011, and maturity value for a 90-day, 12 percent, $30,000 note from a customer dated December 1, 2010, assuming a December 31 year-end. Round your answers to two decimal places.
|
||||
Check out some similar questions!
Hi! I can't seem to understand this, I got most of answers correct but what am I doing wrong for these. Please explain and show the calculation so I can realise my mistakes. Please help me, Please. NOTES PAYABLE Date... Description... Interest Rate Jan-1... 100,00 note due in 9 months... 9%...
Bernard Supply Co. has the following transactions related to notes receivable during the last 2 months of the year. Nov. 1 Loaned $30,000 cash to T. Crew on a 1-year, 8% note. Dec. 11 Sold Goods to M.F. Hoffman, Inc. receiving a $3,600, 90-day, 12% note. Dec. 16 Received an $8,000, 6-month,...
On March 1, Alender and Company discounted at its bank a $3000,one-year,14% interest-bearing note due on August31. The discount rate 16%. The journal entry that is made to record the discounting of the note is
What is the purpose of using a note receivable instead of simply leaving the receivable account as-is? And is this used much in today's accounting world?
View more questions Search
| Question Tools | Search this Question |
Add your answer here.
|
