Exercise no 9 14 9 14 page page 384 384 notes

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Unformatted text preview: Exercise No. Exercise No. 9--14 9 14 Page Page 384 384 Notes Receivable Notes Receivable Transactions Transactions Notes Receivable Notes Receivable Notes Interest = $10,000 x 8’% x 45/360 = $100 Interest = $10,000 x 8’% x 45/360 = $100 Maturity Value = $10,000 + $100 = $10,100 Maturity Value = $10,000 + $100 = $10,100 Notes Receivable Notes Receivable Notes Interest Accrual from December 31 Interest Accrual from December 31 Notes Receivable Notes Receivable Notes Interest = $100 --$40 = $60 Interest = $100 $40 = $60 or $10,000 x 8’% x 27/360 = $60 or $10,000 x 8’% x 27/360 = $60 Notes Receivable Notes Receivable Notes Notes Receivable Notes Receivable Notes Interest = $2,000 x 9’% x 30/360 = $15 Interest = $2,000 x 9’% x 30/360 = $15 Maturity Value = $2,000 + $15 = $2,015 Maturity Value = $2,000 + $15 = $2,015 Notes Receivable Notes Receivable Notes Notes Receivable Notes Receivable Notes Interest = $4,000 x 10’% x 90/360 = $100 Interest = $4,000 x 10’% x 90/360 = $100 Maturity Value = $4,000 + $100 = $4,100 Maturity Value = $4,000 + $100 = $4,100 Notes Receivable Notes Receivable Notes Notes Receivable Notes Receivable Notes •• In-Class Exercise:: In-Class Exercise Exercise No. Exercise No. HO 9-1 HO 9-1 Page Page HO Discounting a Note HO Discounting a Note (Information for the exercise is reflected on the (Information for the exercise is reflected on the next chart) next chart) Discounting Notes Receivable Discounting Notes Receivable Discounting Discounting Notes Receivable Discounting Notes Receivable Discounting Discounting Notes Receivable Discounting Notes Receivable Discounting...
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