On July 9, Widdig Company receives an $8,600, 90-day, 8% note from customer Will Co, as...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
On July 9, Widdig Company receives an $8,600, 90-day, 8% note from customer Will Co, as payment on account Compute the amount due at maturity for the note and interest (Use 360 days a year.) Multiple Choice $8,730 $8.600 $8.715 $8,288 $8,772 On July 9, Widdig Company receives an $8,600, 90-day, 8% note from customer Will Co, as payment on account Compute the amount due at maturity for the note and interest (Use 360 days a year.) Multiple Choice $8,730 $8.600 $8.715 $8,288 $8,772
Expert Answer:
Answer rating: 100% (QA)
Answer 8772 Explanation As at the note maturity Note principal wil... View the full answer
Related Book For
Business Math
ISBN: 978-0133011203
10th edition
Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble
Posted Date:
Students also viewed these accounting questions
-
Find the adjusted balance due at maturity for a 90-day note of $15,000 at 13.8% ordinary interest if a partial payment of $5,000 is made on the 60th day of the loan.
-
Multiple choice On January 1 Year 1 Utah Company leased equipment from Dixie Tool Supply under an operating lease for 4 years Utah Company must make lease payments of 20000 at the end of each year...
-
Multiple Choice Questions 1. An insurance company offers doctors malpractice insurance. Assume that malpractice claims against careful doctors cost $5,000 on average over the term of the policy and...
-
Murray Company has provided the following partial comparative balance sheets and the income statement for 2010. Required: Compute operating cash flows by using the indirectmethod. Murray Company...
-
Assume All-Fresh Foods, Inc., experienced the following revenue, sales returns and allowances, and accounts receivable write-offs: Suppose All-Fresh estimates that 2½% of (gross) revenues will...
-
Define big data. How has big data created greater demand for people with research skills?
-
The average Costco warehouse in the United States generates an average of \($127,000,000\) of net sales. When opening a new warehouse, Costco managers will measure the warehouse's success by how...
-
Lerner Corporation wholesales repair products to equipment manufacturers. On April 1, 2016, Lerner Corporation issued $12,000,000 of five-year, 8% bonds at a market (effective) interest rate of 6%,...
-
M11-10 (Algo) Computing Present Value of Complex Contract [LO 11-S1] As a result of a slowdown in operations, Tradewind Stores is offering employees who have been terminated a severance package of...
-
Macarrys Bicycle Company makes and sells high-quality bicycles, primarily to larger North American bicycle retail outlets and to some wholesalers for smaller retail shops. They have several models,...
-
Two countries, Romani and Slovakia, can each produce two items: wheat and textiles. Romania can produce either 100 tons of wheat and no textiles, or 60 tons of textiles but no wheat. Slovakia can...
-
Suppose that you have $\$ 50,000$ and need to invest it so that you will have $\$ 1,000,000$ twenty years from now to repay a debt. What interest rate do you have to earn, assuming monthly...
-
The chapter speaks of state programs and the National Judicial College, which provides training to judges to help them be more effective on the bench. Should participation in these programs be...
-
Which system for selecting judges do you find achieves the best balance of accountability and judicial independence: pure appointment, election, or merit selection? Why?
-
Which interest do you think is more important when determining how to select judges, judicial accountability or judicial independence?
-
If someone offered to pay you $\$ 5,000$ a year for five years and you could earn 6 percent interest per year, how much would that be worth today?
-
Who is responsible for certifying payment vouchers, managing the workload, and running reports? Lead Certifier Lead Voucher Examiner Voucher Processing Technician Chief of Accounts Payable
-
What are current assets and current liabilities? How are they different from non-current assets and non-current liabilities?
-
Construct a bar graph showing total sales by salesperson for Happy's Gift Shoppe in Table 7-7.
-
Use the following activity chart to find the average daily balance, finance charge, and unpaid balance for July. The monthly interest rate is 1.75%. The billing cycle has 31 days. Date Posted July 1...
-
A number is increased by 15% to 43.7. Find the original amount.
-
Hardy Instruments, Inc., is a manufacturer of various measuring and controlling instruments. Financial statement data for the firm are as follows: Required a. Using the given data, calculate ratios 1...
-
You are analyzing the performance of Jackson Corporation, a manufacturer of personal care products, for the most recent year. The following data are taken from the firm's latest annual report: In...
-
Past quarterly data are presented below for Company company's fiscal year ends on the Saturday nearest to January 31. The other company is the Gillette Company prior to its acquisition by Procter \&...
Study smarter with the SolutionInn App