FDN Company received a four-month note receivable in the amount of PHP41,000,000 on September 1. The note requires interest at an annual rate of 9%. How much is the accrued interest income at the end of September?
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- Jain Enterprises honors a short-term note payable. Principal on the note is $425,000, with an annual interest rate of 3.5%, due in 6 months. What journal entry is created when Jain honors the note?A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an annual interest rate of 11%. If 6 months have passed since note establishment, what would be the recorded interest figure at that time? A. $7,150 B. $65,000 C. $14,300 D. $2,383FDN Company received a four-month note receivable in the amount of P68,000,000 on September 1. The note requires interest at an annual rate of 9%. How much is the accrued interest income at the end of September?
- Chang, Inc. issued a 3-month note in the amount of $360,000 on 12/01/17 with an annual rate of 5%. What amount of interest has accrued as of 12/31/17?ABC Company received a four-month note receivable in the amount of P74,000,000 on September 1. The note requires interest at an annual rate of 9%. How much is the accrued interest income at the end of September?Honeycomb Company issued a note receivable to a customer on September 1. The face value of the note was $20,000 at 5% interest for 7 months. What is the accrued interest journal entry for Honeycomb assuming their fiscal year is December 31?
- On February 1, Maris Company received a 9,000, 10%, four-month note receivable. The cash to be received by Maris Company when the note becomes due is?Honeycomb Company issued a note receivable to a customer on September 1. The face value of the note was $20,000 at 5% interest for 7 months. What is the accrued interest journal entry for Honeycomb assuming their fiscal year is December 31? Debit: Interest Income $333.33; Credit: Interest Receivable $333.33 Debit: Interest Receivable $1,000; Credit: Interest Income $1,000 Debit: Interest Receivable $583.33; Credit: Interest Income $583.33 Debit: Interest Receivable $333.33; Credit: Interest Income $333.33Shady Tree 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 Shady Tree recognize for the entire term of the note?
- On 1 November, Year 1, Noble Co. borrowed P80,000 from South Bank and signed a 12%, six-month note payable, all due at maturity. The interest on this loan is stated separately. How much must Noble pay South Bank on 1 May, Year 2, when the note matures?A company has a $5,000, 6%, 3-month note receivable on its books that was issued May 1. The amount of interest that should be accrued on the note as of June 30 isOn January 26, Nyree Co. borrowed cash from Conrad Bank by issuing a 45-day note with a face amount of $300,000. Assume 360 days in a year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 6%.