A $75,000 note payable is signed on July 8 and is due in 60 days. The interest

Fantastic news! We've Found the answer you've been seeking!

Question:

A $75,000 note payable is signed on July 8 and is due in 60 days. The interest rate on the note is 4.5%. What is the maturity date of this note and what journal entry would be made to pay the note off on the maturity date? (Round your answers to the nearest whole cent.)

Posted Date: May 19, 2024 02:05 AM

See More Questions

Data on the length, in seconds, of a sample of 50 songs by The Beatles are presented in the accompanying data table. Complete parts (a) through (d) below. Click the icon to view the table of song...
A Thermocouple is a temperature-measurement device that consists of two dissimilar metal wires joined at one end. An oversimplified diagram follows. A voltage generated at the metal junctions is read...
Two identical harmonic oscillators are placed such that the two masses slide against one another, as in Figure 12-A. The frictional force provides a coupling of the motions proportional to the...
Economic rent a. applies as a concept to land. b. is the payment to a resource in excess of its opportunity cost. c. will increase when the demand for input increases, if supply is perfectly...
1. Construct and interpret a control chart for the packing slip data. 2. Conduct a Pareto analysis of the errors. 3. What information might a separate chart for each error category provide? Conduct a...
A researcher wants to know whether people from different parts of the United States (East-coast, Mid-west, South, West) feel differently about vaccine mandates (support, don't support). Match the...
Shown here are the numbers of stores in the 10 tallest buildings in Istanbul. 22 26 36 10 22 8. 6. 24 16 20 a) Calculate the sample mean, median and mode. b) Calculate the sample variance (s) and...
A farmer wants to decide what type of corn to plant next year. He plants three different corn hybrid types, each in five different plots. The yields (in bushels per one-third acre plot) from each...
An oil company wishes to study the effects of four different gasoline additives on mean gasoline mileage. The company randomly selects four groups of six automobiles each and assigns a group of six...
Discuss whether or not the forward premium is the cost of hedging and whether the forward or the spot rate should be used to translate between domestic and foreign prices?
LINEKER LTD STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2022 ASSETS Non-current assets Land and buildings Vehicles Equipment Current assets Inventories Receivables Cash Total assets EQUITY AND...
A farmer wants to decide what type of corn to plant next year. He plants three different corn hybrid types, each in five different plots. The yields (in bushels per one-third acre plot) from each...
You are asked to develop a program for Brownie Bakery that will calculate the total price of the brownie that needs to be paid by the customer. The price of the brownie depends on the size of it as...
Keating & Partners is a law firm specializing in labour relations and employee-related work. It employs 25 professionals (5 partners and 20 managers) who work directly with its clients. The average...
You have the following extracts from the income statement account and statement of financial position for Grow Hire Ltd, a transport company. There were no sales of property, plant and equipment...
A small but valuable piece of jewel-encrusted statuary was stolen from an antiques shop, and all foot patrol of- ficers in the area were notified by radio to look for the thief. When an officer saw...
You have the following information regarding taxation for Brain and Co. a software house: Required: Calculate tax paid. Income Statement (Extract) Statement of Financial Position (Extracts) From Year...

A $75,000 note payable is signed on July 8 and is due in 60 days. The interest

Question:

Expert Answer:

Students also viewed these accounting questions