Cora Company had the following notes this year: Interest Rate 3% 4% 5% a. b. C....
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Cora Company had the following notes this year: Interest Rate 3% 4% 5% a. b. C. Date of Note April 24 July 13 August 9 Face Amount $70,000 30,000 40,000 Term of Note 90 days 60 days 120 days Due Date Interest Due Required Determine the due dates and interest due for each of the notes by completing the schedule above. Cora Company had the following notes this year: Interest Rate 3% 4% 5% a. b. C. Date of Note April 24 July 13 August 9 Face Amount $70,000 30,000 40,000 Term of Note 90 days 60 days 120 days Due Date Interest Due Required Determine the due dates and interest due for each of the notes by completing the schedule above.
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a Given Date of note April 24 Term of note 90 days Days to count in April 30 24 days 6 days Total days in May 31 days Total days in June 30 days Remai... View the full answer
Related Book For
Accounting concepts and applications
ISBN: 978-0538745482
11th Edition
Authors: Albrecht Stice, Stice Swain
Posted Date:
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