Vista Supply Company received a 30-day, 4% Note for $90,000, dated September 8 from a customer on
Question:
Vista Supply Company received a 30-day, 4% Note for $90,000, dated September 8 from a customer on account.
a. Determine the due date of the note.
b. Determine the maturity value of the note.
c. Journalize the entry to record the receipt of the payment of the note at maturity.
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 36% (11 reviews)
a The due date for the note is October 8 determined ...View the full answer
Answered By
Larlyu mosoti
I am a professional writer willing to do several tasks free from plagiarism, grammatical errors and submit them in time. I love to do academic writing and client satisfaction is my priority. I am skilled in writing formats APA, MLA, Chicago, and Harvard I am a statistics scientist and I can help out in analyzing your data. I am okay with SPSS, EVIEWS, MS excel, and STATA data analyzing tools.
Statistical techniques: I can do linear regression, time series analysis, logistic regression, and some basic statistical calculations like probability distributions. . I'm ready for your working projects!
Services I would offer:
• Academic writing.
• Article writing.
• Data entry.
• PDF conversion.
• Word conversion
• Proofreading.
• Rewriting.
• Data analyzing.
The best reason to hire me:
- Professional and Unique work in writing.
- 100% satisfaction Guaranteed
- within required time Express delivery
- My work is plagiarism Free
- Great communication
My passion is to write vibrantly with dedication. I am loyal and confident to give my support to every client. Because Client satisfaction is much more important to me than the payment amount. A healthy client-contractor relationship benefits in the longer term. Simply inbox me if you want clean work.
5.00+
3+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
For the following taxpayers, determine the due date of their tax returns. a. Jerome, single taxpayer, is not requesting an extension this year. Assume the due date falls on a Tuesday. b. Lashaunda, a...
-
Determine the due date and the amount of interest due at maturity on the followingnotes: Date of Note October 1 August 30 May 30 Interest Term of Face Amount $10,500 18,000 Rate Note 60 days 120 days...
-
Determine the due date and the amount of interest due at maturity on the followingnotes: Date of Note Interest Rte Term of Note May 15 March 20 May 19 October 1 August 30 Face Amount $40,000 15,000...
-
Ratio Computation and Analysis; Liquidity) as loan analyst for Madison Bank, you have been presented the following information. Each of these companies has requested a loan of $50,000 for 6 months...
-
An airline manufacturer incurred the following costs last month (in thousands of dollars): a. Depreciation on forklifts........................................................................... $ 60...
-
This question asks you to compute valuation effects for the United States in 2015 using the same methods mentioned in the chapter. Use the bea.gov website to collect the data needed for this...
-
To exchange heat between four streams with \(\Delta T_{\text {min }}=20^{\circ} \mathrm{C}\), the HEN in Figure 11.61 is proposed. Determine whether the network has the minimum utility requirements....
-
The budget director of Natalias Florist has prepared the following sales budget. The company had $100,000 in accounts receivable on July 1. Natalias Florist normally collects 100 percent of accounts...
-
A conducting sphere of 4.0 cm radius has a cavity of 1.0 cm radius (sharing the same center). The conducting sphere has a total charge of + 15 nC. In addition, a - 12.0 nC point charge is located at...
-
Cherry Cotta makes custom ordered clay pots for residential gardens. Below is cost information regarding its latest job. a. Materials were purchased on account. $18,996 purchased b. A materials...
-
At the end of the current year, Accounts Receivable has a balance of $2,500,000; Allowance for Doubtful Accounts has a debit balance of $9,000; and net sales for the year total $32,000,000. Using the...
-
Gorilla Supply Company received a 120-day, 5% note for $150,000, dated March 27 from a customer on account. a. Determine the due date of the note. b. Determine the maturity value of the note. c....
-
Hypothesis tests are proposed. For each hypothesis test, a. identify the variable. b. identify the two populations. c. determine the null and alternative hypotheses. d. classify the hypothesis test...
-
Honolua Surf Company has two classes of capital stock outstanding: 8%, $20 par preferred and $5 par common. On December 31, 2025, the following accounts were reported in Stockholders' Equity:...
-
18. Rewrite the following grammar to give + precedence over * and force + to be right associative. = * | >> ( )|
-
Calculate the MODE and the RAGE for the following values regarding how many times a group of 10 adolescents used drugs or alcohol in the last month: (enter answers to two decimal places, where...
-
On January 1 , 2 0 1 8 , when its $ 3 0 par value common stock was selling for $ 8 0 per share, a corporation issued $ 1 0 million of 1 4 % convertible debentures due in 1 0 years. The conversion...
-
What does the following method do? Trace it with n = 9 and again with N = 10. (point 10) public int fun (int num) {int answer; if (num == 1) answer = num; else { } int mid = num/2; int remain = num -...
-
In May 2011, higher food prices forced consumers to cut spending. Source: CNN Money, June 4, 2011 Is the demand for food elastic or inelastic? Explain your answer.
-
On August 31, 2012, the balances of the accounts appearing in the ledger of Wood Interiors Company, a furniture wholesaler, are as follows:Prepare the August 31, 2012, closing entries for Wood...
-
How have social media shifted the control of information away from traditional gatekeepers of information to the consumers of information?
-
The condensed balance sheet and income statement data for Finch Corporation are presented below. Additional information:1. The market price of Finch common stock was $5.00, $3.50, and $2.80 for 2010,...
-
Financial information for Chimera Company is presented here. Additional information:1. Inventory at the beginning of 2011 was $330,000.2. Receivables at the beginning of 2011 were $80,000.3. Total...
-
Selected financial data for Stanley Black & Decker, Inc. and Snap-On Tools for 2009 are presented here (in millions). Instructions(a) For each company, compute the following ratios.(1) Current...
-
Harwood Company uses a job-order costing system that applies overhead cost to jobs on the basis of machine-hours. The company's predetermined overhead rate of $2.60 per machine-hour was based on a...
-
Dahlia Corporation has a current accounts receivable balance of $447,016. Credit sales for the year just ended were $4,950,605. a. What is the receivables turnover? Note: Do not round Intermediate...
-
Crenshaw Inc. is considering a change to activity-based product costing. The company produces two products, cell phones and tablet PCs, in a single production department. The production department is...
Study smarter with the SolutionInn App