Answer: $450
Explanation:
A Promissory note is a type of notes which carry a fixed interest rate. In a Promissory note, the issuer of the note has made a promises to pay a fixed amount with interest on the maturity date to the payee.
Answer and Explanation:
Face value of the promissory note = $10,000
Maturity period = 180 days
Interest rate = 9%
Interest payable on maturity = $10,000 × 9% × 180/360
= 10,000 × 0.09 × 0.5
= $450
The total interest due on the maturity date is $450.
Answer:
debit the van account with $63,000
Explanation:
The Lindy's cost of the van is analyzed below:
Delivery van invoice price $60,000
discount ($4,000)
sales tax $5,000
cost of logo and advertising $2,000
annual insurance cost $0
Cost of the van $63,000
The sales tax is included as it cannot be reclaimed from the relevant tax authority.
Cost of logo and advertising even though looks like a revenue expense that should not be capitalized,but in actual terms is a cost incurred to bring asset to current position of being able to be recognized as belonging to Lindy's Flowers.
the price of this bill is $64669.58 in 60 days.
In this question the given things is:
a treasury bill has a face value of $65,000.
yield percentace = 3.05%
time = 60days
the price of this bill = a face value of a treasury- (a face value of a treasury *yield percentage * given time per year)
the price of this bill = $65,000 - $65,000*(3.05/100)*(60/360)
the price of this bill =$64669.58.
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