On June 1st Davis inc. issue and an $84,000, 5% 120-day note payable to Garcia company....
On June 1st Davis inc. issue and an $84,000, 5% 120-day note payable to Garcia company. assume that the fiscal year of garcia ends June 30 using it 360 -day year what is the amount of interests revenue rounded received by garcia in the following year
Homework Answers
| Number of days in following year | 91 | =120-29 |
| Amount of interest revenue recognized by Garcia in the following year | 1062 or 1061 | =84000*5%*91/360 |
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On June 1st Davis inc. issue and an $84,000, 5%
120-day note payable to Garcia company....
please help On June 1, Davis Inc. issued an $60,000, 10%, 120-day note payable to Garcia...
please help
On June 1, Davis Inc. issued an $60,000, 10%, 120-day note payable to Garcia Company. Assume that the fiscal year of Garcia ends June 30. Using the 360-day year, what is the amount of interest revenue (rounded) recognized by Garcia in the following year? Oa. $6,000 Ob. $1,500 c. $500 d. $1,000 G
On June 1, Davis Inc. issued an $73,100, 11%, 120-day note payable to Garcia Company Assume...
On June 1, Davis Inc. issued an $73,100, 11%, 120-day note payable to Garcia Company Assume that the fiscal year of Garcia ends June 30. Using a 360-day year in your calculations, what is the amount of interest revenue recognized by Garcia in the following year? When required, round your answer to the nearest dollar. a.$1,340 b.$8,041 c.$2,033 d.$670
On August 1, Batson Company issued a 60 day note with a face amount of $55,200...
On August 1, Batson Company issued a 60 day note with a face amount of $55,200 to Jergens Company for merchandise inventory. (Assume a 360-day yea used for interest calculations.) a. Determine the proceeds of the note assuming the note carries an interest rate of 12 b. Determine the proceeds of the note assuming the note is discounted at 12 Previous Next > Email mestructor Save and e 9 A OAM June 1, Davis Inc. issued an 4.200,10%, 120-day not...
On June 8, Alton Co. issued an $88,900, 11 %, 120-day note payable to Seller Co....
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On July 8, Jones Inc. issued an $76,400, 7%, 120-day note payable to Miller Company. Assume...
On July 8, Jones Inc. issued an $76,400, 7%, 120-day note payable to Miller Company. Assume that the fiscal year of Jones ends on July 31. Using the 360-day year, what is the amount of interest expense recognized by Jones in the current fiscal year? Round your answer to the nearest whole dollar.
On May 18, Rodriguez Co. issued an $84,000, 6%, 120-day note payable on an overdue account...
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1. Notes may be issued a. to creditors to temporarily satisfy an account payable created earlier...
1. Notes may be issued a. to creditors to temporarily satisfy an account payable created earlier b. when borrowing money c. when assets are purchased d. for all of these 2. On June 1, Davis Inc. issued an $60,800, 8%, 120-day note payable to Garcia Company Assume that the fiscal year of Garcia ends June 30. Using a 360-day year in your calculations, what is the amount of interest revenue recognized by Garcia in the following year? When required, round...
On July 8th, Jones Inc. issued an $80,000, 6 %, 120-day notes payable to Miller Company,...
On July 8th, Jones Inc. issued an $80,000, 6 %, 120-day notes payable to Miller Company, Assume that the fiscal year of Jones ends July 31. Using the 360-day year, what is the amount of interest expense recognized by Jones in the current fiscal year? A. $700 B. $4,200 C. $307 D. $1,400
On July 1, Alton Co. issued an $73,100,12%, 120-day note payable to Seller Co. Assume that...
On July 1, Alton Co. issued an $73,100,12%, 120-day note payable to Seller Co. Assume that the fiscal year of Alton Co. ends July 31. Using a 360-day year in your calculations, what is the amount of interest expense recognized by Alton in the current fiscal year? When required, round your answer to the nearest dollar. Select the correct answer. $1,462 $2,193 $731 $8,772
please help
On June 1, Davis Inc. issued an $60,000, 10%, 120-day note payable to Garcia Company. Assume that the fiscal year of Garcia ends June 30. Using the 360-day year, what is the amount of interest revenue (rounded) recognized by Garcia in the following year? Oa. $6,000 Ob. $1,500 c. $500 d. $1,000 G
On August 1, Batson Company issued a 60 day note with a face amount of $55,200 to Jergens Company for merchandise inventory. (Assume a 360-day yea used for interest calculations.) a. Determine the proceeds of the note assuming the note carries an interest rate of 12 b. Determine the proceeds of the note assuming the note is discounted at 12 Previous Next > Email mestructor Save and e 9 A OAM June 1, Davis Inc. issued an 4.200,10%, 120-day not...
On June 8, Alton Co. issued an $88,900, 11 %, 120-day note payable to Seller Co. Assume that the fiscal year of Seller Co. ends June 30. Using a 360-day year in your calculations, what is the amount of interest revenue recognized by Seller in the following year? When required, round your answer to the nearest dollar. O$1,630 O$2,662 $815 O$9,779
On July 1, Alton Co. issued an $73,100,12%, 120-day note payable to Seller Co. Assume that the fiscal year of Alton Co. ends July 31. Using a 360-day year in your calculations, what is the amount of interest expense recognized by Alton in the current fiscal year? When required, round your answer to the nearest dollar. Select the correct answer. $1,462 $2,193 $731 $8,772
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