A 180-day note for $2000 with interest at 6% is dated September 18, 2024. Compute the note's value on December 18, 2024, if the money is worth 5%. (30 days a month, 360 days a year) (
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- Chemical Enterprises issues a note in the amount of $156,000 to a customer on January 1, 2018. Terms of the note show a maturity date of 36 months, and an annual interest rate of 8%. What is the accumulated interest entry if 9 months have passed since note establishment?If Bergen Air Systems takes out a $100,000 loan, with eight equal principal payments due over the next eight years, how much will be accounted for as a current portion of a noncurrent note payable each year?On January 1, 2021, Mahogany Company issued a note with a face amount of P2,000,000. The note carried an interest rate of 10% payable every yearend for three years. The market rate of interest on similar notes is 12.5%. How much is the interest expense for 2022?
- Record the journal entry: Jack has $90,000 two-year note payable to first USA Bank and Trust, dated December 19, 2022. The stated annual interest rate on the note is 5.5%. The terms of the note payable call for the following payments: -$4,950 interest payments on 12/19/23 and 12/19/24 -$90,000 principal payment on 12/19/24On 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%.Halo Company issued a three-year note of 10% P 10,000,000 on March 31, 2025. Interest is payable annually every April 1 starting April 1, 2026. The effective interest for this type of note is 12%. How much is the interest payable on December 31, 2027?
- Maywood, Inc. recently signed a $364,000, six - month note on August 22, 2025. The interest rate is 12%. How much interest will be due at maturity? O A. $18,200 B. $14,560 C. $21,840 D. $43,680Assuming a 360-day year, when a $14,700, 90-day, 12% interest-bearing note payable matures, total payment will be ______ .Round your answer to the nearest whole dollar. a.$1,764 b.$15,141 c.$441 d.$16,464An $9,000 note dated 06/22/2020, matures on 12/22/2020 at 8.15%. (Banker’s Rule) In how many days is the note due? What interest is paid on the note?
- On January 1, 2021, Mahogany Company issued a note with a face amount of P2,000,000. The note carried an interest rate of 10% payable every yearend for three years. The market rate of interest on similar notes is 12.5%. How much is the carrying amount of the note on December 31, 2021?A five-year note for $4800 issued on October 1, 2017, with interest at 2% compounded annually is discounted on April 1, 2020, at 4% compounded quarterly. What are the proceeds of the note?On January 1, 2021, Aloha Co. received the following note: Face amount P 1,000,000 Effective interest 18% Stated interest 0% The note is due in four equal annual installments. The first installment is due on December 31, 2021. The carrying value of the note on December 31, 2023 is _______? . Do not round off your present value factors but round off your final answer to two decimal places.
