A six-month non-interest-bearing note issued on September 30, 2010 for $3300 was discounted at 11.25% on December

Question:

A six-month non-interest-bearing note issued on September 30, 2010 for $3300 was discounted at 11.25% on December 1. What were the proceeds of the note?

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

Step by Step Answer:

Related Book For book-img-for-question

Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

See More Books

Question Posted: Jan 20, 2016 07:17 AM

See More Questions

An examination of the accounting records of the Durham Corporation on January 1, 2008 (after reversing entries had been made for all accrued interest at the end of 2007) disclosed the following...
An examination of the accounting records of Durham Corporation on January 1, 2019 (after reversing entries had been made for all accrued interest at the end of 2018) disclosed the following...
Zero-Interest-Bearing Note Receivable On September 30, 2009, Rolen Machinery Co. sold a machine and accepted the customers zero-interest-bearing note. Rolen normally makes sales on a cash basis....
Q2. The figure below shows a three stage space-division switch with N =400, n-10 and 8 cross bars at the middle stage. Carefully analyze this multistage network and answer the following questions:...
Spur Companys actual earnings for the first two quarters of 2008 and its estimate during each quarter of its annual earnings are: Actual first-quarter earnings............$ 400,000 Actual...
he following data represent the total revenue R (in dollars) received from selling x bicycles at Tunneys Bicycle Shop (a) Find the average rate of change in revenue from x = 25 to x = 150 bicycles....
For Example 6.10, use a simulator to graph the effluent temperature of the methanol reactor as a function of the dodecane flow rate. Data From Example 6.10:- Data From Example 6.8:- Returning to...
Suppose that all of the checks issued to the defendants were made payable to Fasig-Tipton Co., Fasig-Tipton Midlantic, Inc. Under the Uniform Commercial Code, were the instruments payable jointly or...
Blood flows through the aorta at an average speed of v = 19cm/s. The aorta is roughly cylindrical with a radius r = 17.6 mm. The volume rate of blood flow through the aorta is r 2 v . Calculate the...
1. In communicating the changes in philosophy and practice within PepsiCo, should CEO Indra Nooyi and her management team use formal or informal channels of communication? Give examples of each. 2....
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%?
A 100-day $750 note with interest at 12.5% was written on July 15. The maker approaches the payee on August 10 to propose an early settlement. What amount should the payee be willing to accept on...
Rewrite Programming Exercise 7.17 using streams. Define a class named Student with data fields name and score and their getter methods. Store each student in a Student object. Data from Programming...
What is a membership-based reward? How does it differ from a performance-based reward?
When it comes to training, UPS seems to have thought of everything. Employees are taught efficient procedures for safe driving, how to lift and carry packages, knock on doors, and even how to carry...
What is a legal employee selection process? How does that differ from an illegal one?
What can organizations do to help prevent workplace violence?
Without a supportive culture in an organization, peer evaluations are subject to too many distortions. Accordingly, they should not be widely used. Do you agree or disagree? Defend your position.
Differentiate each expression with respect to x. a) b) c) d) e) f) g) (3x 2 2) 4 h) i) j) 1 9x + 8
Propose a reasonable mechanism for the following reaction. OH
On October 29, 2017, Toddlers' Toys borrowed money with a promise to pay $23 520.18 on March 5, 2018. This loan included interest at 6.5%. How much money did Toddlers' Toys borrow on October 29?
Debt obligations of $500.00 due on April 27, 2018 and $1625.00 due on September 30, 2018 are to be repaid by a payment of $1200.00 on July 6, 2018 and the balance on January 15, 2019. What is the...
A loan of $1475 taken out on June 7 requires three payments. The first payment is due on July 7. The second payment is twice as large as the first payment and is due on August 19. The final payment...
Provide the codification references to support your answers Scope Questions 1. Which entities are subject to the Interim Reporting guidance within the Codification? 2. Does the Foreign Currency...
Why should a company establish an internal control structure? (2 marks) Evaluate the advantages and disadvantages of Perpetual Inventory System against Periodical Inventory System respectively. (2...
The Green Chef is an exclusive restaurant in your city. Reservations are difficult to secure and the menu is expensive. The owner, Chef Jorge, is rumored to be running an illegal gambling operation...

A six-month non-interest-bearing note issued on September 30, 2010 for $3300 was discounted at 11.25% on December

Question:

Step by Step Answer:

Legal due date March 30 2011 3 ...View the full answer

Business Mathematics In Canada

Students also viewed these Accounting questions