17 on april 1 2015 banne services has received a 6 month note for 10 000 at 8 calcul 4307050
17) On April 1, 2015, Banne Services has received a 6-month note for $10,000 at 8%. Calculate the amount of interest receivable on maturity.
A) $320
B) $460
C) $800
D) $400
18) On October 1, 2015, Android Inc. made a loan to one of its customers. The customer signed a 4-month note for $100,000 at 15%. How much interest revenue did the company record in the year 2015?
A) $1,500
B) $1,250
C) $5,000
D) $3,750
19) On October 1, 2015, Android Inc. made a loan to one of its customers. The customer signed a 4-month note for $100,000 at 15%. How much interest revenue did the company record in the year 2016 for this note?
A) $2,150
B) $3,750
C) $1,250
D) $5,000
20) On October 1, 2015, Android Inc. made a loan to one of its customers. The customer signed a 4-month note for $100,000 at 15%. Calculate the total interest earned on the note.
A) $5,000
B) $3,750
C) $1,250
D) $15,000
21) On October 1, 2015, Android Inc. made a loan to one of its customers. The customer signed a 4-month note for $100,000 at 15%. Calculate the maturity value of the note.
A) $105,000
B) $75,000
C) $25,000
D) $95,000
22) On December 1, 2015, Parsons Inc. sold machinery to a customer for $20,000. The customer could not pay at the time of sale, but agreed to pay 9 months later, and signed a 9-month note at 9% interest. How much interest revenue was earned during the year 2015?
A) $180
B) $150
C) $200
D) $900
23) On December 1, 2015, Parsons Inc. sold machinery to a customer for $20,000. The customer could not pay at the time of sale, but agreed to pay 9 months later, and signed a 9-month note at 9% interest. How much interest revenue was earned during the year 2016?
A) $900
B) $1,800
C) $1,600
D) $1,200
24) On December 1, 2015, Parsons Inc. sold machinery to a customer for $20,000. The customer could not pay at the time of sale, but agreed to pay 9 months later, and signed a 9-month note at 9% interest. How much interest revenue was earned for the entire term of the note?
A) $1,350
B) $1,200
C) $150
D) $1,800
25) On December 1, 2015, Parsons Inc. sold machinery to a customer for $20,000. The customer could not pay at the time of sale, but agreed to pay 9 months later, and signed a 9-month note at 9% interest. What was the total amount of cash collected by Parsons on the maturity of the note?
A) $21,800
B) $21,350
C) $18,650
D) $21,200
26) A six-month note receivable for $4,000 at 12%, dated September 1, 2015, has accrued interest revenue of ________ on December 31, 2015.
A) $480
B) $240
C) $160
D) $80