Question: A 90-day non-interest-bearing note for $3300 is dated August 1. What would be a fair selling price of the note on September 1 if money

A 90-day non-interest-bearing note for $3300 is dated August 1. What would be a fair selling price of the note on September 1 if money can earn 7.75%?

Step by Step Solution

★★★★★

3.44 Rating (173 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Time from sale date ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

711-B-A-C-I (977).docx

120 KBs Word File

Students Have Also Explored These Related Accounting Questions!

Prepare general journal entries on the books of both Mirror Co. and the other party (either Rosman Co., Kaw County Bank, or Lawrence Bank) for each of the following transactions: June 1 Rosman Co....

Find the present value of a 180-day non-interest-bearing note for $7200 issued February 20, 2016, if money is worth 5.64%, on June 1, 2016.

Find the present value of a 180-day non-interest-bearing note for $7200 issued February 20, 2020, if money is worth 5.64%, on June 1, 2020.

A 90-day non-interest-bearing note for $3300 is dated August 1. What would be a fair selling price of the note on September 1 if money can earn 7.75%?

1. Describe the composition of your corporation's contributed capital [Hint: contributed capital includes common and preferred stock plus any paid in capital in excess of par (or stated value)]. 2....

Please help with this accounting assignment by replying to the questions. Attached is the Apple 10K report that you will use as a reference. Created by EDGAR Online, Inc. APPLE INC Table_Of_Contents...

Please help with this assignment. Ive attached the 2016 Apple 10k report and questions. thanks Category: Revenue and Net Income1. What was the corporation's net sales, cost of goods sold, and gross...

Please help with the attached problems. Ive attached the Apple 10-K and problems. Created by EDGAR Online, Inc. APPLE INC Table_Of_Contents Form Type: 10-K Period End: Sep 24, 2016 Date Filed: Oct...

Please help with the following assignment. Please use the Apple 10k provided and choose another competitive company. Please let me know if you have any questions. Created by EDGAR Online, Inc. APPLE...

Hello, I NEED THIS BACK IN 3 HOURS. CURRENT TIME IS 7:46PM SO IT NEEDS TO BE DONE BY 10:46PM. Thank you! 1. (TCO A) Listed below are several information characteristics and accounting principles and...

Describe the relationship between the terms ethics and morals.

The Lake Shore Inn is trying to determine its break-even point. The inn has 50 rooms that it rents at $60 a night. Operating costs are as follows. Salaries ...... $7,200 per month Utilities .........

Atmel Incorporated manufactures and sells two products. Consider the following data regarding these products. Total budgeted machine hours are 7 7 , 8 0 0 . The budgeted overhead costs are shown...

If an owner of a business sells a share of the business to a partner, the eff ect on the balance sheet of the business will be that a. the total of assets and liabilities will increase b. the total...

Compute the amount of money that, deposited in an account on April 1, 2017, will grow to $657.58 by September 10, 2017, at 4.75% p.a.

The annual Deerfield Golf Club membership fees of $1750 are due on March 1, 2018. Club management offers a reduction of membership fees of 18.9% p.a. to members who pay the dues by September 1, 2017....

On March 15, 2020, Ben bought a government-guaranteed short-term investment maturing on September 12, 2020. How much did Ben pay for the investment if he will receive $10 000 on September 12, 2020,...

6-21. You are deciding between two mutually exclusive investment opportunities. Both require the same initial investment of $10 million. Investment A will generate $2 million per year (starting at...

Seinfeld Inc. currently has $875,000 in accounts receivable, $675,500 in inventories and $875,000 in accounts payable on its balance sheet. The firm's production manager has determined that cost of...

Ejercicio #5 1)Qu significa si el resultado de una probabilidad es demasiado pequeo, como 0.00003? Explica. (2 puntos)