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Question
Entries for Discounted Note Payable
A business issued a 45-day note for $80,000 to a creditor on account. The note was discounted at 5%. Assume a 360-day year.
a. Journalize the entry to record the issuance of the note. For a compound transaction, if an amount box does not require an entry, leave it blank.
b. Journalize the entry to record the payment of the note at maturity.
If the probability of bankruptcy is zero, what is the rate of interest on the risky bond?
We are evaluating a project that costs $1035725, has a seven-year life, and has no salvage value. Assume that depreciation is straight-line to zero over the life of the project. Sales are projected at 41186 units per year. Suppose the projections giv..
Calculate the total variance for an increase of 3.84% in its residual standard deviation.
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Frank received the following benefits from his employer this year. What amount must Frank include in his gross income?
The discount rate that your firm uses for projects of this type is 9.25%. What is the investment's net present value?
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For retirement planning, you decided to deposit $1,000 per month and increase your deposit by $100 per month. How much will you have at the end of 10 years if the bank pays 3% annually, compounded monthly?
An investment offers a 13.5 percent total return over the coming year. Bill Bernanke thinks the total real return on this investment will be only 6.5 percent.
The Washingtons decide to buy a $400,000 home by putting a 20% down payment and financing the balance with a 30-year fixed mortgage at 4.2%. What is the amount of the monthly payment for their mortgage? What is the total interest paid on the mortgage..
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