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Calculate the discount rate used by the lender.

18 / 01 / 2019 Research Papers

This paper circulates around the core theme of Calculate the discount rate used by the lender. together with its essential aspects. It has been reviewed and purchased by the majority of students thus, this paper is rated 4.8 out of 5 points by the students. In addition to this, the price of this paper commences from £ 99. To get this paper written from the scratch, order this assignment now. 100% confidential, 100% plagiarism-free.

Notes payable—discount basis On August 1, 2013, Colombo Co.’s treasurer signed a note promising… 1 answer below » Notes payable—discount basis On August 1, 2013, Colombo Co.’s treasurer signed a note promising to pay $120,000 on December 31, 2013. The proceeds of the note were $114,000. Required: a. Calculate the discount rate used by the lender. b. Calculate the effective interest rate (APR) on the loan. c. Use the horizontal model (or write the journal entry) to show the effects of 1.      Signing the note and the receipt of the cash proceeds on August 1, 2013. 2 View complete question » Notes payable—discount basis On August 1, 2013, Colombo Co.’s treasurer signed a note promising to pay $120,000 on December 31, 2013. The proceeds of the note were $114,000. Required: a. Calculate the discount rate used by the lender. b. Calculate the effective interest rate (APR) on the loan. c. Use the horizontal model (or write the journal entry) to show the effects of 1.      Signing the note and the receipt of the cash proceeds on August 1, 2013. 2.      Recording interest expense for the month of September. 3.      Repaying the note on December 31, 2013. View less » Dec 04 2015 02:57 PM


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