A 60-day, 5% note for $7,200, dated April 15 is received from a customer on account. The face value of the note is the one listed below. Select the correct answer. $7,560 $7,200 $360 $7,260
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A 60-day, 5% note for $7,200, dated April 15 is received from a customer on account. The face value of the note is the one listed below.
Select the correct answer.
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- Sunshine Service Center received a 120-day, 6% note for $40,000, dated April 12 from a customer on account. Assume 360 days per year. a. Determine the due date of the note. b. Determine the maturity value of the note. When required, round your answers to the nearest dollar.$fill in the blank df5724f79f8d02f_2 c. Journalize the entry to record the receipt of the payment of the note at maturity. If an amount box does not require an entry, leave it blank. Aug. 10 Cash Cash Note Receivable Note Receivable Interest Revenue Interest RevenueA 60-day, 5% note for $10,200, dated April 15, is received from a customer on account. The face value of the note is a.$510 b.$10,200 c.$10,710 d.$10,285A 90-day, 5% note for $9,600, dated May 1, is received from a customer on account. The maturity value of the note is the one listed below. Select the correct answer. $9,720 $120 $9,600 $10,080
- A 90-day, 10% note for $10,000 dated March 15 is received from a customer on account. The face value of the note is: Oa. $10,250. Ob. $9,000. Oc. $9,750. Od. $10,000.A 60-day, 5% note for $7,800, dated April 15, is received from a customer on account. The face value of the note is Oa. $390 Ob. $8,190 Oc. $7,865 Od. $7,800Cube Ice Company received a 120-day, 10% note for $96,000, dated April 9 from a customer on account. Assume 360 days in a year. a. Determine the due date of the note. b. Determine the maturity value of the note.$fill in the blank f3b771fe205d07f_2 c. Journalize the entry to record the receipt of the payment of the note at maturity. If an amount box does not require an entry, leave it blank. Accounts Receivable Cash Interest Receivable Interest Revenue Notes Receivable Unearned Interest Aug. 7 fill in the blank 332b64fd401df83_2 fill in the blank 332b64fd401df83_3 fill in the blank 332b64fd401df83_5 fill in the blank 332b64fd401df83_6 fill in the blank 332b64fd401df83_8 fill in the blank 332b64fd401df83_9
- Prefix Supply Company received a 120-day, 8% note for $450,000, dated April 9 from a customer on account. Assume 360 days in a year. a. Determine the due date of the note. August 7 b. Determine the maturity value of the note. $ c. Journalize the entry to record the receipt of the payment of the note at maturity. If an amount box does not require an entry, leave it blank. Aug. 7 Cash $ $ Notes Receivable $ $ Interest Revenue $ $A company issued a 60 day 11% note for $17,000. What is the principal amount of the note? Round your answer to the nearest dollar. A) $16,688 B) $17,000 C) $18,870 D) $17,312 On June 1, Mickey Mouse Corporation accepted a customer's P10,000, 9 percent, 3-month note. On July 1, the note was discounted at a bank at a rate of 12 percent. How much cash did Mickey Mouse receive from the bank on the discounted note? choices 10,020 9,800 9,942 10,250
- Houston Company receives a six-month note from a customer. The note has a face amount of $8,000 and an interest rate of nine percent. What is the total amount of interest income to be received? O$720 O$540 O$360 O$180On July 9, Mifflin Company receives an $8,500, 90-day, 8% note from customer Payton Summers as payment on account. What entry should be made on July 9 to record receipt of the note? Multiple Choice Debit Notes Receivable $8,670; credit Sales $8,670. Debit Notes Receivable $8,725; credit Interest Revenue $225; credit Accounts Receivable $8,500. Debit Accounts Receivable $8,500; credit Sales $8,500. Debit Notes Receivable $8,500; credit Accounts Receivable $8,500. Debit Notes Receivable $8,500; credit Sales $8,500.ShadyTree Company issued a note receivable to a customer. The face value of the note was $12,000 at 4% interest for 5 months. How much interest revenue should ShadyTree recognize for the entire term of the note? $280 $480 $200 $40