Compute the missing amounts for each of the following notes. Principal $ 27378 $60,000 $50,000 Annual Interest Rate 6 % 10 % 11 % Time 60 days 5 months 6 months $30,000 8 % 3 years $ Total Interest
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- Calculate interest accrued for the following notes receivable as of December 31st using the following information: Maker Note 1 Note 2 $272.61 $276.40 $700 $791.67 Date of Note 11/15 12/15 Principal $20,000 $10,000 Interest Rate 10% 5% Term 120 days 90 daysComputing Accrued Interest Compute the interest accrued on each of the following notes receivable held by Northland, Inc., on December 31: (Use 360 days for interes nearest dollar.) Date of Maker Note Maple November 21 Wyman December 13 Nahn December 19 Maple: $ Wyman: Nahn: 0 0 0 Principal $20,000 16,000 23,000 Interest Rate Term 10% 120 days 996 90 days 896 60 daysCompute the due date, amount of interest and total cash received on the maturity date for the following notes receivable: 1-Date of Note: May 30; $24,000, 9%, 120 days 2-Date of Note March1; $32,500, 8%, 90 days 3-Date of Note November6; $400,000, 12%; 5months
- Complete the following table by filling in missing amounts. Note: Use 360 days a year. $ Principal of Note 18.200 Annual Interest Rate Time Period Interest 10 % 90 days S 20,000 % 180 days $ 1,200 6 % 270 days $ 729j. Interest was accrued on the note receivable received on October 17 ($100,000, 90-day, 9% note). Assume 360 days per year. Date Description Debit Credit Dec. 31 Interest Receivable v 1,850 X Interest Revenue v 2,250 X1 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
- Compute the maturity date and interest for the following notes. (Use 360 days for calculation.) (a) April 17 (b) August 11 (a) Dates of Notes (b) Maturity date Terms 45 days 2 months $ $ Principal Interest Rate $60,800 90,000 Interest 3% 7%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.) a. b. C. Principal Amount on Notes Receivable $ $ 50,000 40,000 Annual Interest Rate 12.0% % 9.0 % Time Period 6 months 9 months 12 months Interest Earned $ $ 3,600 2,700Assuming a 360-day year, the interest charged by the bank, at the rate of 7%, on a 90-day, discounted note payable of $115,133 is a. $115,133 b. $8,059 c. $4,030 d. $2,015
- Presented below are data on three promissory notes. Determine the missing amounts. (Use 360 days for calculation. Do not round intermediate calculations.) Date of Note Terms Maturity Date Principal Annual Interest Rate 60 April 1 $810,000 6 % tA $ days 30 July 2 70,800 % days 6 March 7 128,000 10 % $ months Total Interest $590Presented below are data on three promissory notes. Determine the missing amounts. (Use 360 days for calculation. Do not round Intermediate calculations.) a. b. J Date of Note April 1 July 2 March 7 Terms 60 days 30 days 6 months Maturity Date May 31 August 1 September 7 Principal $792,000 100,000 121,600 Annual Interest Rate 5 % % 9 % $ EA $ Total Interest $500Complete the following table by filling in missing amounts. (Use 360 days a year.) Principal of Note Annual Interest Rate 27,200 7% 32,000 % 3% $ $ Time Period 90 days 180 days 270 days $ $ Interest 1,440 450