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Mar.1 Borrowed $120,000 from Lessburg Bank. The six-year, 10% note requires payments due annually, on March 1. Each payment consists of $20,000 principal plus one year's interest. Dec 1 Mortgaged the warehouse for $150,000 cash with Sage Bank. The mortgage requires monthly payments of $5,000. The interest rate on the note is 3% and accrues monthly. The first payment is due on January 1, 2017. 31 Recorded interest accrued on the Sage Bank note. 31 Recorded interest accrued on the Lessburg Bank note. 2017 Jan 1 Paid Sage Bank monthly mortgage payment. Feb.1 Paid Sage Bank monthly mortgage payment. Mar 1 Paid Sage Bank monthly mortgage payment. 1 Paid first installment on note due to Lessburg Bank. Requirement 2. Prepare the liabilities section of the balance sheet for Discount Pharmacies on March1, 2017 after all the journal entries are recorded. First, prepare an amortization schedule for the Sage Bank mortgage to March 1, 2018. Prepare the schedule for the first three payments, then the remaining months one at a time. (Round your answers to the nearest whole dollar.) Review the related journal entries you prepared in Requirement 1 Beginning Principal Interest Total Ending Balance Payment Expense Payment Balance 12/01/2016 1/01/2017 2/01/2017 3/01/2017 4/01/2017 5/01/2017 6/01/2017 07/01/2017 08/01/2017 9/01/2017 10/01/2017 11/01/2017 12/01/2017 1/01/2018 2/01/2018 3/01/2018 Now prepare the liabilities section of the balance sheet for Discount Pharmacies on March 1, 2017. (If a box is not used in the table leave the box empty; do not enter a zero.) Review the amortization schedule you prepared above. Discount Pharmacies Balance Sheet (Partial) March 1, 2017 Liabilities
You are the assistant director of the hospital medical staff office at The Rural Outreach Community Hospital in a tiny town in Arkansas. It is your job to verify physician credentials for staff privileges. Your hospital receives an application from a..
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Net working capital investment is important in capital budgeting cash flow analysis because:
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Buchanan Corp. is refunding $10 million worth of 10% debt. The new bonds will be issued for 8%. The corporation's tax rate is 35%. The call premium is 9%. What is the net cost of the call premium? A bond with a coupon rate of 6.5%, maturing in 10 yea..
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Suppose the returns on large-company stocks are normally distributed. Also suppose large-company stocks had an average return of 12% and a standard deviation of 26.2%.
Your firm needs to raise $100 million in funds. You can borrow short-term at a spread of 1% over LIBOR. Alternatively, you can issue 10-year, fixed-rate bonds at a spread of 2.50% over 10-year treasuries, which currently yield 7.60%. Current 10-year ..
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