User Account

All Pages

How much was the final payment to the bank

Assignment Help Accounting Basics
Reference no: EM133010415

Problem - On July 1, 2020, Julio Company assigned P1300300 accounts receivable to a bank to secure an P800300 loan, with 1% monthly interest. The customer was not notified. Collections were: P200300 in July, P600300 in August, and P200300 in September. At the end of each month, the entity remitted the collections (or amount due) to the bank plus interest.

1. How much is the total interest expense incurred in 2020?

2. How much was the final payment to the bank?

Reference no: EM133010415

Questions Cloud

What is the average rate of return and standard deviation : What is the average rate of return and standard deviation for this time period? Over the past 5 years, the Swann Co. had an annual returns of 6.8 percent
Examine behavior within firms in relation to financial : Examine ethical behavior within firms in relation to financial management. Provide two examples of companies that have been guilty of ethics-based action
Compute straight-line depreciation : Compute straight-line depreciation on the building at the end of one year, assuming an estimated twelve-year useful life and a $3,900 estimated residual value
Find what are the expected return and standard deviation : If stock A and B are expected to have the follwing returns next year, then what are the expected return and standard deviation for the portfolio
How much was the final payment to the bank : On July 1, 2020, Julio Company assigned P1300300 accounts receivable to a bank to secure an P800300 loan, How much was the final payment to the bank
Prepare journal entry to record peru summarized transaction : Prepare journal entries to record Peru's 2020 and 2021 summarized transactions and the adjusting entries to record bad debt expense at the end of each year.
What is the yield to maturity : If the bonds have 20 years to maturity and the bonds are quoted at 102.25% of the par value, what is the yield to maturity
Compute the price of the put with the same strike : Use? put-call parity to compute the price of the put with the same strike and expiration date. Using the? Black-Scholes formula, compute the price of the call.
Mitigate the risk of two people doing the same application : Mitigate the risk of two people doing the same application - Create a detailed PDF instruction manual that explains how to use the particular applications

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd