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On July 1, the company assigned 1,000,000 accounts receivable to a bank under a notification arrangement. The bank loans 80% less 4% charge on the gross amount assigned. The entity signed a promissory note that provides 1% interest per month on the unpaid loan balance. On July 31, the company received notice from the bank that 600,000 of the assigned accounts were collected less 2% discount. A check was sent to the bank for the interest. On August 31, the company received notice from the bank that 300,000 of the assigned accounts were collected. Final settlement was made by the bank for the excess collections together with uncollected assigned accounts of 100,000. Required:
Problem I. Prepare the entries for the mentioned transactions
Problem II. What is the amount of cash received from the bank?
Problem III. What is the amount of assigned accounts receivable transferred to accounts receivable?
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: - Explain the goals and uses of special journals.
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.
Term Structure of Interest Rates
Write a report on Internal Controls
Prepare the bank reconciliation for company.
Create a cost-benefit analysis to evaluate the project
Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR
Distinguish between liquidity and profitability.
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, Compound interest, discount rate, force of interest, AV, PV
CAPM and Venture Capital
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