Question: On September 16, 2020, a note for 18,000 that bears interest at 12 percent was received by the company. How much is the notes maturity

On September 16, 2020, a note for 18,000 that bears interest at 12 percent was received by the company. How much is the notes maturity value if it matures on January 14, 2021?

Group of answer choices

17,280

20,160

18,710

18,720

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!

Colette needs to create a competency framework for her team. What is the best way for her to get started? Select an answer: Interview high-performing individuals. List the tasks her team does well....

On September 16, 2020, a note for P18,000 that bears interest at 12 percent was received by the company. How much is the note's maturity value if it matures on January 14, 2021?

Question 54 1.5 pts On September 16, 2020, a note for P18,000 that bears interest at 12 percent was received by the company. How much is the note's maturity value if it matures on January 14, 2021? O...

Chapter 1 Introduction to Accounting NAME ___________________________________________________ DATE _______________________________ 1. Which of the following events would be recorded as an accounting...

I posted part one for context, i already completed this part . I do not need help with Part one I need help with part 2 which is YOU ARE NOW READY TO CONTINUE WITH PART II Prepare adjusting journal...

During September 2019, Interior Designs Specialty Shop, a retail store, had the transactions listed below. The general ledger accounts used to record these transactions are also provided below...

During September 2019, Interior Designs Specialty Shop, a retail store, had the transactions listed below. The general ledger accounts used to record these transactions are also provided below....

Alex company has the following transactions in 2020 involving notes receivable: May 1 Received a P1,000,000, 90-day, 12% interest bearing note from A Company in settlement of account. May 1 Received...

PROBLEM 1 In the course of your audit of Khaleesi Inc. for the year ended December 31, 2014, you took note of the following information: ITEM AUDIT NOTES a. Accounts payable - trade, P170,000 This...

The following account balances pertain to the Henryville Manufacturing Co. at September 30, 2016 (before adjusting entries). Debit Credit Accounts Receivable...

The maximum solubility of silver cyanide, AgCN, is 1.5x10-8 mol/L at 25 degree celsius. Calculate Ksp for silver cyanide. Pls. show all the steps.

If XYZ Company had $80,000 of Accounts Receivable and it expected that bad debt expenses are 7% of Accounts Receivable, knowing that company journalized Bad debt expense at $5,000. The company's AFDA...

Why do auditors establish a preliminary judgment about materiality? To help plan the appropriate evidence to accumulate So that the client can know what records to make available to the auditor To...

all i need is "required 1" & "required 6" On November 1 of Year 5, you were hired as the treasurer for Rayburn Processing. Part of your job duties include maintaining accurate records of the...

Planning Procurement. An automobile manufacturer wants to award contracts for the supply of five different engine components. Some of the components are used in most models, while other components...

The total number of runs scored by the top five players in a cricket match is 198. The following pie chart shows the percentage of runs scored by each pl. Runs Scored 20% 21% Player 1 Player 2 Player...

Listed below are accounts to use for transactions (a) through (d), each Identified by a number. Following this list are the transactions. You are to indicate for each transaction the accounts that...

CASE STUDY Patient Name Valarie Ramirez Attending Paul F. Buckwalter, MD PATIENT INFORMATION DOB 08/04/1986 Allergies MAN 00-AA-006 Penicillin Other Information Past HX: AB x1 Valarie Ramirez arrives...

Tori and some other childeen experimented with balls to see which ones rolled. First using a piece of cardboard to use as a ramp, they angled it on a block to the floor to test the balls. Then Tori...

The variables pe-ratio, profit, growth and employ are the price earnings ratio for 19 companies (firm) and their associated profit margins, percentage growth rates and number of employees in...

Is there a relationship between heart attacks and wine consumptionuse the variables wine and heart. Correlation coefficient = R2 = Model = Standard errors of coefficients =

Determine a model of the cost of stay in hospital (cost), which is dependent on the duration of stay in days (day). Obtain the scatter plotare any adjustments required? Correlation coefficient = R2 =...