ACCT 3101-Assignment 2-Blank

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

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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
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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...
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