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kotykmax [81]
3 years ago
14

Hasty and Tasty Foodservice received a 120-day, 9% note for $12,000, dated April 9 from a customer on account. Assume 360 days i

n a year. a. Determine the due date of the note. b. Determine the maturity value of the note. $ c. Journalize the entry to record the receipt of the payment of the note at maturity. If an amount box does not require an entry, leave it blank. Aug. 7
Business
1 answer:
kodGreya [7K]3 years ago
5 0

Answer:

a.

August 7

b.

$12,360

c.

Dr. Cash                    $12,360

Cr. Interest Income  $360

Cr. Note receivable $12,000

Explanation:

Note Receivable is promise in writing to receive a sum of money in future. The money normally consists of Principal and interest.

In this question a note of $120,000 is received from the customer which will mature after 120 days and offer 9% interest on it.

Principal = $12,000

a.

Due date = April 9 + 120 days = August 7

b.

Maturity Value = Principal x ( ( 1 + interest rate ) x time period )

Maturity Value = $12,000 x  ( 1 + (9%  x 120/360 ) ) = $12,360

c.

Interest Income = $12,360 - $12,000 = $360

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After researching the competitors of EJH​ Enterprises, you determine that most comparable firms have the following valuation​ ra
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Answer:

The range consistent with both sets would be $34.00 to $37.40. This includes the smallest value that is within both the P/E and EV/EBITDA ranges ($34) and the highest value within both ranges ($37.40)

4 0
3 years ago
You are bullish on telecom stock. the current market price is $110 per share, and you have $22,000 of your own to invest. you bo
deff fn [24]

Answer:

9.4%

Explanation:

Initial investment=$22,000+$22,000=$44,000

number of shares bought=$44,000/$110(the investor paid $55 out of every $110)

number of shares bought=400

Increase in share in one year=$110*8%=$8.80

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rate of return=(increase in share price-loan interest)/initial amount invested

rate of return=($8.80-$3.63)/$55

rate of return=9.4%

5 0
3 years ago
Brown Company provided services to a customer and immediately collected $1,900 cash. Show how to record the transaction to the T
hjlf

Answer:

credited; right; debited; left

Explanation:

The journal entry to record this transaction is shown below:

Cash A/c Dr $1,900

     To Service revenue A/c $1,900

(Being the cash is collected)

It to be displayed in T accounts

For cash account

                                                               Cash

Debit side

Service revenue                    $1,900

For service revenue account

                                                    Service revenue

                                                                                      Credit side

                                                                                     Cash    $1,900

So, the cash account would be debited and would be displayed on the left hand side while the service revenue would be credited and  would be displayed on the right hand side

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What steps should e taken if the results do not support the hypothesis?
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More information please
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3 years ago
The ____ provide(s) schedule-related information about each activity, such as predecessors, successors, logical relationships, l
never [62]

Answer:

The answer is D. Activity attributes

Explanation:

Activity attributes are descriptive components of an activity. Examples of these attributes include;  activity name, description and responsible person.

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3 years ago
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