A note of P 55,000 dated January 1, 2015 is due in 5 years and 6 months with interest at 9% compounded quarterly. On July 1, 2017, the holder of the note has it discounted by a lender who charges 8 ½ % converted semi-annually. What are the proceeds?
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A note of P 55,000 dated January 1, 2015 is due in 5 years and 6 months with interest at 9% compounded quarterly. On July 1, 2017, the holder of the note has it discounted by a lender who charges 8 ½ % converted semi-annually. What are the proceeds?
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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?A six year note for 3500 issued on april1, 2015 with interest at 6.9percent compounded semi annually is discounted on january 1,2017 at 5.5percent compounded quarterly .what are the proceeds of the note?
- a seven-year note for $2800.00 issued on october 1,2015, with interest at 5.7% compounded annually is discounted on june 1,2021, at 8.8% compounded quarterly. what are the proceeds of the note?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?A nine-year note for $3200 issued on October 1, 2015, with interest at 6.6% compounded annually is discounted on July 1, 2016, at 9.1% compounded semi-annually. What are the proceeds of the note? The proceeds of the note are $. (Round to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
- A 5-year promissory note for $3200 issued on September 15, 2018, with interest at 6.5% compounded annually, was sold on December 1, 2019, at 5% compounded semi-annually. What is the sale price (proceeds) of the note?A 12-year promissory note for $650000 issued on August 15, 2012, with interest at 3.5% compounded monthly, was sold on March 15, 2018, at 6% compounded semi-annually. What is the sale price (proceeds) of 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 interest expense for 2022?
- As debt payment, P315,000 is due in 4 years and 7 months. If the debtor wishes to repay the debt now, and the lender applies 9% interest compounded semi-annually, how much does he have to pay?On January 1, 2020, Jackie Company issued a note with a face amount of P5,000,000. The note carried an interest rate of 10% payable every yearend for three years. The market rate of interest on similar notes is 12%. Scenario B: The terms of the note were modified on June 30, 2022. The principal is reduced by P250,000. The accrued interest is forgiven. The annual interest, however, is raised to 12% payable every December 31 and June 30, starting December 31, 2022 until December 31, 2024. How much is the gain or loss from debt restructuring under Scenario B? [Indicate if it is a gain or loss] How much is the carrying amount of the new liability on the date of terms modification under Scenario B?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?
