ACCT 3101-Assignment 2-Blank - $328.56($3,184.78($3,513.34...

Info icon This preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Name Yihan Zhu ACCT 3101 Assignment 2 - 25 Points Ranch Company loaned $50,000 to a supplier on Janaury 1, 2009. The Due March 3 2011 quarterly payments beginning on March 31, 2009. Amount of Loan $50,000.00 Annual Interest Rate 0.06 Number of quarterly payment 16 Quarterly Payment ($3,513.34) Date Cash Interest rate Interest principal balance 1/1/2009 $0.00 $50,000.00 3/31/2009 ($3,513.34) $0.014125 $706.25 ($2,807.09) ### 6/30/2009 ($3,513.34) $0.014125 $666.60 ($2,846.74) ### 9/30/2009 ($3,513.34) $0.014125 $626.39 ($2,886.95) ### 12/31/2009 ($3,513.34) $0.014125 $585.61 ($2,927.73) ### 3/31/2010 ($3,513.34) $0.014125 $544.26 ($2,969.08) ### 6/30/2010 ($3,513.34) $0.014125 $502.32 ($3,011.02) ### 9/30/2010 ($3,513.34) $0.014125 $459.79 ($3,053.55) ### 12/31/2010 ($3,513.34) $0.014125 $416.66 ($3,096.68) ### 3/31/2011 ($3,513.34) $0.014125 $372.92 ($3,140.42) ### 6/30/2011 ($3,513.34) $0.014125
Image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: $328.56 ($3,184.78) ### 9/30/2011 ($3,513.34) $0.014125 $283.57 ($3,229.77) ### 12/31/2011 ($3,513.34) $0.014125 $237.95 ($3,275.39) ### 3/31/2012 ($3,513.34) $0.014125 $191.69 ($3,321.65) ### 6/30/2012 ($3,513.34) $0.014125 $144.77 ($3,368.57) 6,880.558624100 9/30/2012 ($3,513.34) $0.014125 $97.19 ($3,416.15) 3,464.405890729 12/31/2012 ($3,513.34) $0.014125 $48.93 ($3,464.41) 0.000000000 Total ($56,213.45) 6,213.45 ($50,000.00) Ranch Company Amount of interest revenue for 2011 1,223.00 Total receivable on 12/31/2011 $42,160.09 Total current receivable on 12/31/2011 $14,053.36 loan had an annua l interest rate of 5.65%. The loan required 16 equal A B C D E F G H 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37...
View Full Document

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern