User Account

All Pages

What is the total amount of interest to be paid on note

Assignment Help Accounting Basics
Reference no: EM132432992

Question - On June 1, 2019, ABC Company signed a $25,000, 120-day, 6% note payable to cover a past due account payable. Please answer the below three questions.

a. What is the total amount of interest to be paid on this note?

b. Show the ABC Company's general journal entry to record the issuance of the note payable

c. Show the ABC Company's general journal entry to record the payment of the note on September 29, 2019.

Reference no: EM132432992

Questions Cloud

Provide a brief introduction about the city : How can the city's built environment be changed to increase its resiliency?How can the city's transportation system be modified to increase resiliency?
Communism of soviet russia : If the communism of Soviet Russia and the communist block post WWII is THE alternative to capitalism, history has rendered its economic judgment
Emotions ad attitudes changing into modern racism : Is prejudice really decreasing, or are the negative emotions ad attitudes changing into modern racism?
Why is social stratification universal : Problem: Take the position of functionalist view or the conflict view of social stratification.
What is the total amount of interest to be paid on note : On June 1, 2019, ABC Company signed a $25,000, 120-day, 6% note payable to cover a past due account payable. What is the total amount of interest to be paid
Quesiton regarding the sociological imagination : What are some of the ways can apply the 'sociological imagination' have gained in this course to help better understand everyday life?
Provide a brief introduction about the city : How can the city's built environment be changed to increase its resiliency?How can the city's transportation system be modified to increase resiliency?
What is the medicalization of deviance : Question 1: What is the medicalization of deviance? Give an example.
How can communities stop the perpetration of partner : How can communities stop the perpetration of partner violence also known as intimate partner violence or domestic violence before it starts?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd