4)A promissory note for $800.00 dated January 15, 2017, requires an interest payment of $100.00 at maturity. If interest is at 9% p.a. compounded monthly, determine the due date of the note
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4)A promissory note for $800.00 dated January 15, 2017, requires an interest payment of $100.00 at maturity. If interest is at 9% p.a. compounded monthly, determine the due date of the note
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- A seven-month promissory note for $7,800 dated March 12, 2016 bears interest at 8% a. What is the legal due date of the note? b. What is the amount of interest payable at the due date? c. What is the maturity value of the note?A promissory note for $800 00 dated January 15, 2017, requires an interest payment of $140.00 at maturity. If interest is at 12% pa compounded monthly determine the due date of the note 0.0 The due date is (Round down to the nearest day.)A promissory note for $800 dated January, 15, requires an interest payment of $ 130at maturity. If interest is at 12% p.a. compounded monthly , determine the due date of the note.
- Answer the following questions regarding a four-month promissory note for $1,850 issued June 1, 2021, and bearing an interest rate of 5% p.a. a) What was the maturity date of the note? b) How much was the note worth at maturity? c) How much was the note traded for on Sep 1, 2021, if money was worth 6% p.a.?A $40,000, four-month, 6.5% note payable was issued on October 1, 2017. Which of the following would be included in the journal entry required on the note's maturity date by the borrower? A a debit to interest expense for $217 B a credit to Note Payable for $40,867 C a debit to Interest Payable for $217 D a credit to Cash for $40,000a 6 month non-interest-bearing note was issued on March 31, 2019 for $3300 was discounted at 8.25% on july 31,2019. what were the proceeds of the note?
- the pita pit borrowed 197000 on november 1 2021 and signed a six month note bearing interest at 12%. principal and interest are payable in full at maturity on may 1 2022 in connection with this note. the pita pit should report interest expense at december 31 2021 in the amount of.Give typing answer with explanation and conclusion A promissory note for $7200.00 dated May 15, 2016, requires an interest payment of $740.00 at maturity. If interest is at 9.6% compounded monthly, determine the due date of the note. Group of answer choices 11 Oct 2018 24 Aug 2017 23 May 2017 21 Sep 2016 23 July 2016Flipco signed a 10-year note payable on January 1, 2018, of $800,000. The note requires annual principal payments each December 31 of $80,000 plus interest at 5%. The entry to record the annual payment on December 31, 2019, includes a. a debit to Interest Expense for $36,000. b. a debit to Interest Expense for $40,000. c. a credit to Notes Payable for $80,000. d. a credit to Cash of $120,000.
- MCM Company issued a note receivable to a customer on September 1, 2020. The face value of the note was $20,000 at 5% interest for 7 months. What would be included in the journal entry on March 30, 2021? A credit to Interest Income for $250.00 A debit to Interest Income for $583.33 A credit to Interest Receivable for $250.00 A debit to Interest Receivable for $583.33On March 15, 2021, a six-month promissory note for $1,175 with interest at 4% was issued. Compute the present value of the note on May 22, 2021, if money is worth 8%.On October 1, 2009, a company received a one-year note receivable bearing an interest rate at market rate. The face amount of the note receivable and the entire amount of the interest are due on September 30, 2010. The interest receivable account at December 31, 2009 would consist of an amount representing a. Three months of accrued interest income B. Nine months of accrued interest income C. Twelve months of accrued interest income D. The excess at October 1, 2009 of the present value of the note receivable over its face value.
