Question: this is one question only. Pina Colada Corp, has three notes payable outstanding on December 31, 2020, as follows: 1. 2. A six-year, 6%, $69,000


Pina Colada Corp, has three notes payable outstanding on December 31, 2020, as follows: 1. 2. A six-year, 6%, $69,000 note payable issued on March 31, 2020. Pina Colada Corp, is required to pay $13,800 plus interest on March 31 each year starting in 2021. A seven-month, 4%, $36,000 note payable issued on July 1, 2020. Interest and principal are payable at maturity. A 30-month, 4%, $147,000 note payable issued on September 1, 2020. Pina Colada Corp. is required to pay $4.900 plus interest on the first day of each month starting on October 1, 2020. All payments are up to date. 3. Calculate the current portion of each note payable Current Portion Note 1 $ Note 2 $ Note 3 $ Calculate the non-current portion of each note payable. Non-Current Portion Note 1 $ ta Note 2 $ Note 3 $ Calculate any interest payable at December 31, 2020. Interest Payable Note 1 $ Note 2 $ Note 3 $
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
