Shawn Bixby borrowed $21,000 on a 120-day, 12% note. After 70 days, Shawn paid $2,400 on...

Shawn Bixby borrowed $21,000 on a 120-day, 12% note. After 70 days, Shawn paid $2,400 on the note. On day 100, Shawn paid an additional $4,400. Use ordinary interest. a. Determine the total interest use the U.S. Rule. (Do not round intermediate calculations. Round your answer to the nearest cent.) Total interest $ b. Determine the ending balance due use the U.S. Rule. (Do not round intermediate calculations. Round your answer to the nearest cent.) Ending balance due $

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Shawn Bixby borrowed $24000 on a 210-day, 12% note. after 85 days, Shawn paid $2700 on...

Shawn Bixby borrowed $24000 on a 210-day, 12% note. after 85 days, Shawn paid $2700 on the note. on day 130, shawn paid an additional $4700. use ordinary interest

Max Wholesaler borrowed $5,000 on a 12%, 120-day note. After 45 days, Max paid $1,750 on...

Max Wholesaler borrowed $5,000 on a 12%, 120-day note. After 45 days, Max paid $1,750 on the note. Thirty days later, Max paid an additional $1,500. Use ordinary interest. a. Determine the total interest using the U.S. Rule. (Round your intermediate balances and interest amounts to the nearest cent. Round your final answer to the nearest cent.) Total interest amount $ b. Determine the ending balance due using the U.S. Rule. (Round your intermediate balances and interest amounts to the...

Max Wholesaler borrowed $3,000 on a 8%, 120-day note. After 45 days, Max paid $1,050 on...

Max Wholesaler borrowed $3,000 on a 8%, 120-day note. After 45 days, Max paid $1,050 on the note. Thirty days later, Max paid an additional $900. Use ordinary interest. a) Determine the total interest use the U.S. Rule. (Do not round intermediate calculations. Round your answers to the nearest cent.) b) Determine the ending balance due use the U.S. Rule.(Do not round intermediate calculations. Round your answers to the nearest cent.)

Max Wholesaler borrowed $13,500 on a 11%, 120-day note. After 45 days, Max paid $4,725 on...

Max Wholesaler borrowed $13,500 on a 11%, 120-day note. After 45 days, Max paid $4,725 on the note. Thirty days later, Max paid an additional $4,050. Use ordinary interest. a. Determine the total interest using the U.S. Rule. (Round your intermediate balances and interest amounts to the nearest cent. Round your final answer to the nearest cent.) Total interest amount $ b. Determine the ending balance due using the U.S. Rule. (Round your intermediate balances and interest amounts to the...

B 1 On December 1, Destin Corporation borrowed $10,000 on a 120-day, 8% note. Prepare the...

B 1 On December 1, Destin Corporation borrowed $10,000 on a 120-day, 8% note. Prepare the entries to record the issuance of the note, the accrual of interest at year end, and the payment of the note. B 3 Mary Stine’s regular hourly wage rate is $12, and she receives an hourly rate of $18 for work in excess of 40 hours. During a March pay period, Mary works 47 hours. Mary’s federal income tax withholding is $70, and she...

Adela borrowed $10,500 at 12% ordinary interest for 170 days. After 40 days, she made a...

Adela borrowed $10,500 at 12% ordinary interest for 170 days. After 40 days, she made a partial payment of $3,000. After another 80 days, Adela made a second partial payment of $2,000. What is the final amount due on the loan?

On June 8, Alton Co. issued an $60,800, 12%, 120-day note payable to Seller Co. Assume...

On June 8, Alton Co. issued an $60,800, 12%, 120-day note payable to Seller Co. Assume that the fiscal year of Seller Co. ends June 30. Using a 360-day year in your calculations, what is the amount of interest revenue recognized by Seller in the following year? When required, round your answer to the nearest dollar. $7,296 $1,986 $608 $1,216

I. On September 12, 2010, Mardi Gras Mambo Inc. received a $6,000 8%, 120 day note...

I. On September 12, 2010, Mardi Gras Mambo Inc. received a $6,000 8%, 120 day note on account from Throwin’ Things Corporation a. Is the note a note receivable or a note payable for Mardi Gras Mambo? b Is Mardi Gras Mambo the maker or the payee of the note? c What is the face amount of the note? d What is the total amount of cash that is due at maturity (i.e., what is the maturity value of the...

P2000 is borrowed for 105 days at 12% per annum simple interest. How much will be...

P2000 is borrowed for 105 days at 12% per annum simple interest. How much will be due at the end of 105 days? Simple Interest

You purchase 120 shares for $70 a share ($8,400), and after a year the price falls...

You purchase 120 shares for $70 a share ($8,400), and after a year the price falls to $65. Calculate the percentage return on your investment if you bought the stock on margin and the margin requirement was (ignore commissions, dividends, and interest expense): 15 percent. Use a minus sign to enter the amount as a negative value. Round your answer to one decimal place. 65 percent. Use a minus sign to enter the amount as a negative value. Round...

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