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How to calculate note receivable

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Reference no: EM132869466

Question - On January 1, 2021, The Concod Company received a 4-year promissory note that had a face value of $825,000, and a stated interest rate of 6%. Interest was receivable on January 1 each year. The note was issued to yield an effective interest rate of 8%. The Concord Company is publicly traded, uses the effective interest method of amortization for discounts or premiums, and has an April 30 year-end.

1. How to calculate note receivable?

2. How to do a note premium / discount amortization schedule?

Reference no: EM132869466

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