Question: please assist ill like if correct Proceeds from Notes Payable On January 26, Vibrant Co. borrowed cash from Conrad Bank by issuing a 120-day note

please assist ill like if correct

Proceeds from Notes Payable On January 26, Vibrant Co. borrowed cash from Conrad Bank by issuing a 120-day note with a face amount of $42,000. Assume a 360 -day year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 10%. x b. Determine the proceeds of the note, assuming the note is discounted at 10%. x

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!

Question 1: Question 2: Question 3: Question 4: Question 5: Question 6: Question 7: Question 8: Question 9: Question 10: Using bank reconciliation to determine cash receipts stolen Alaska Impressions...

1. The journal entry to record the issuance of a note to a creditor to satisfy an account payable created earlier would include a __________ to __________. credit; Accounts Payable credit; Notes...

Impaired Goodwill and Amortization of Patent a. Record the acquisition of patent. If an amount box does not require an entry, leave it blank. April 1 Proceeds from Notes Payable On January 26,...

Proceeds from Notes Payable On January 26, Vibrant Co. borrowed cash from Conrad Bank by issuing a 120-day note with a face amount of $50,400. Assume a 360-day year. a. Determine the proceeds of the...

Proceeds from Notes Payable On January 26, Vibrant Co, borrowed cash from Conrad Bank by issuing a 120-day note with a face amount of $68,400, Assume a 360-day year. a. Determine the proceeds of the...

Proceeds from Notes Payable On January 26, Vibrant Co. borrowed cash from Conrad Bank by issuing a 120-day note with a face amount of $73,200. Assume a 360-day year. a. Determine the proceeds of the...

Proceeds from Notes Payable On January 26, Vibrant Co. borrowed cash from Conrad Bank by issuing a 120-day note with a face amount of $64,800. Assume a 360-day year. a. Determine the proceeds of the...

need help Proceeds from Notes Payable On January 26, Vibrant Co. borrowed cash from Conrad Bank by issuing a 90 -day note with a face amount of $96,000. Assume a 360 -day year. a. Determine the...

Proceeds from Notes Payable On January 26, Vibrant Co. borrowed cash from Conrad Bank by issuing a 30-day note with a face amount of $55,200. Assume a a. Determine the proceeds of the note, assuming...

Show true/false The space Z in the diagram below has a A-complex structure.

Given line segment KM where K is (-4, 7) and M is (4, -5), find the coordinates of L such that the ratio of KL to KM is 1:3.

You manufacture wine goblets. In mid-June, you receive an order for 10,000 goblets from Japan. Payment of 400,000 is due in mid-December. You expect the yen to rise from its present rate of $1 = 130...

The first scenario will be a Verbal Judo scenario in which your scenario follows the standard Verbal Judo interaction: You need to ask somebody to modify their behavior either to do something or to...

2. Describe roles played by information systems specialists and end users in American Waters systems transformation project. American Water, founded in 1886, is the largest public water utility in...

2. Describe ARIs earlier capabilities for data analysis and reporting and their impact on the business. Automotive Resources International, better known as simply ARI, is the worlds largest...

3. Was SAP HANA a good solution for ARI? Why or why not? Automotive Resources International, better known as simply ARI, is the worlds largest privately-held company for vehicle fleet management...