On June $1,2018,$ Angel Corp received $$289,747\mathrm{.}18$ in exchange for a $5-$year non$-$interest bearing note with a face value of $$350,000$ due on June $1,2023.$ What is the imputed rate of interest on this note?

Select one:

a$.9\%$

b$.4\%$

c$.7\%$

d$.6\%$

On June $1,2018,$ Angel Corp received $$289,747\mathrm{.}18$ in exchange for a $5-$year non$-$interest bearing note with a face value of $$350,000$ due on June $1,2023.$ What is the imputed rate of interest on this note?

Select one:

a$.9\%$

b$.4\%$

c$.7\%$

d$.6\%$

On June $1,2018,$ Angel Corp received $$289,747\mathrm{.}18$ in exchange for a $5-$year non$-$interest bearing note with a face value of $$350,000$ due on June $1,2023.$ What is the imputed rate of interest on this note?

Select one:

a$.9\%$

b$.4\%$

c$.7\%$

d$.6\%$

On $10/1/2018,$ Marley Company issues a $3-$year interest bearing note payable with a face value of $$60,000$ to Nelson Company in exchange for equipment. The note has a stated interest rate of $4\%,$ which is compounded annually. Interest payments are due on $10/1$ of each year. Which of the following would be included in Marley's $12/31/2018$ adjusting journal entry related to this note?

Select one:

a$.$ Credit of $$2,400$ to the Interest Payable account $.$

b$.$ Credit of $$600$ to the Interest Payable account

c$.$ Debit of $$2,400$ to the Interest Payable account

d$.$ Credit of $$600$ to the Notes Payable account

On $10/1/2018,$ Marley Company issues a $3-$year interest bearing note payable with a face value of $$60,000$ to Nelson Company in exchange for equipment. The note has a stated interest rate of $4\%,$ which is compounded annually. Interest payments are due on $10/1$ of each year. Which of the following would be included in Marley's $12/31/2018$ adjusting journal entry related to this note?

Select one:

a$.$ Credit of $$2,400$ to the Interest Payable account $.$

b$.$ Credit of $$600$ to the Interest Payable account

c$.$ Debit of $$2,400$ to the Interest Payable account

d$.$ Credit of $$600$ to the Notes Payable account

On February $1,2019,$ Leary Corporation issued $5-$year bonds dated January $1,2019,$ with a par value of $$500,000$ at $102$ plus accrued interest. The bonds carry a stated rate of $5\%$ and pay interest semi$-$annually on January $1$ and July $1$ beginning July $1,2019.$

How much cash was received by Leary Corp. from the bondholders on February $1,2019?$

Select one:

a$.$ $$509,167$

b$.$ $$505,000$

c$.$ $$509,208$

d$.$ $$513,333$

e$.512,083$

On February $1,2019,$ Leary Corporation issued $5-$year bonds dated January $1,2019,$ with a par value of $$500,000$ at $102$ plus accrued interest. The bonds carry a stated rate of $5\%$ and pay interest semi$-$annually on January $1$ and July $1$ beginning July $1,2019.$

How much cash was received by Leary Corp. from the bondholders on February $1,2019?$

Select one:

a$.$ $$509,167$

b$.$ $$505,000$

c$.$ $$509,208$

d$.$ $$513,333$

e$.512,083$

On February $1,2019,$ Leary Corporation issued $5-$year bonds dated January $1,2019,$ with a par value of $$500,000$ at $102$ plus accrued interest. The bonds carry a stated rate of $5\%$ and pay interest semi$-$annually on January $1$ and July $1$ beginning July $1,2019.$

How much cash was received by Leary Corp. from the bondholders on February $1,2019?$

Select one:

a$.$ $$509,167$

b$.$ $$505,000$

c$.$ $$509,208$

d$.$ $$513,333$

e$.512,083$

On February $1,2019,$ Leary Corporation issued $5-$year bonds dated January $1,2019,$ with a par value of $$500,000$ at $102$ plus accrued interest. The bonds carry a stated rate of $5\%$ and pay interest semi$-$annually on January $1$ and July $1$ beginning July $1,2019.$

How much cash was received by Leary Corp.