Question: On June 8 , Smith Technologies issued a $ 7 5 , 0 0 0 , 6 % , 1 4 0 - day note

On June 8, Smith Technologies issued a $75,000,6%,140-day note payable to Johnson Company. What are the proceeds of the note on June 8?
0
$70,500
$75,000
$76,500
On June 8 , Smith Technologies issued a $ 7 5 , 0

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

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

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Entries for factory costs and jobs completed Instructions Chart of Accounts Journal Instructions Collegiate Publishing Inc. began printing operations on March 1. Jobs 301 and 302 were completed...

Q:

6. On June 8, Smith Technologies issued a $75,000, 6%, 140-day note payable to Johnson Company. What is the due date of the note? A. 27-Oct B. 25-Oct C. 26-Oct D. 28-Oct 7. On June 8, Williams...

Q:

The transfer to expense of the cost of intangible assets attributed to the passage of time or decline in usefulness is called amortization. True False Which of the following is included in the cost...

Q:

The transfer to expense of the cost of intangible assets attributed to the passage of time or decline in usefulness is called amortization. True False Which of the following is included in the cost...

Q:

PLEASE ANSWER ALL. THANKS :) 10. Payroll taxes levied against employees become liabilities A. when the payroll is paid to employees B. at the end of an accounting period C. the first of the following...

Q:

#1 On June 8, Smith Technologies issued a $75,000, 6%, 140-day note payable to Johnson Company. What are the proceeds of the note on June 8? O a. $76,750 Ob. $75,000 c. 0 Od. $70,500

Q:

On June 8, Smith Technologies issued a $75,000, 6%, 140-day note payable to Johnson Company, what is the due date of the note? October 25 0 October 27 0 October 28 0 October 26

Q:

On June 8 , Smith Technologies issued a $75,000,6%,140-day note payable to Johnson Company. What is the due date of the note? a. October 25 b. October 26 c. October 28 d. October 27

Q:

On June 8, Smith Technologies issued a $75,000, 6%, 140-day note payable to Johnson Company. What is the due date of the note?

Q:

PLEASE ANSWER ALL.THANKS :) 1. On June 8, Williams Company issued an $80,000, 5%, 120-day note payable to Brown Industries. Assuming a 360-day year, what is the maturity value of the note? A. $88,200...

Q:

Rockford Corporation is a wholesale plumbing supply distributor. The corporation was organized in 1981, under the laws of the State of Illinois, with an authorized capitalization of 10,000 shares of...

Q:

For the following decisions, indicate whether they are examples of a bottom-up analysis or a top-down analysis: a. Replacing the printing press at a newspaper b. A newspapers decision to sell all its...

Q:

Lonesome Gulch Mines has a standard deviation of 42 percent per year and a beta of + .10. Amalgamated Copper has a standard deviation of 31 percent a year and a beta of + .66. Explain why Lonesome...

Q:

What coupon rate should be set for the new bonds of the Bozo Company for these bonds to sell at par? 1 0 . 0 0 % 9 . 5 2 % 1 0 . 2 5 % 1 0 . 5 1 %

Q:

Hugo decides to buy his Christmas gifts on Black Friday. To simplify his life, he is giving his 10 closest friends scarves for Christmas and everyone else Christmas cards. Hugo is willing to pay up...