Accounting Math

posted by .

This is not homework i already got it wrong without an explanation.
On June 30, 2007, Simon Company discounted a customer’s $180,000, 6-month, and 10 percent note receivable dated April 30, 2007. A discount rate of 12 percent was charged by the bank. Simon’s proceeds from this discounted note would be:

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Discount Notes

    On september 5, sheffield company discounted at Sunshine bank a 9000.00 (Maturity Value), 120-day note dated June 5, Shunshine's discount rate was 9% What proceeds did sheffield company receive
  2. Discount Notes

    On september 5, sheffield company discounted at Sunshine bank a 9000.00 (Maturity Value), 120-day note dated June 5, Shunshine's discount rate was 9% What proceeds did sheffield company receive
  3. Discount Note

    On September 5, Sheffield company discounted at sunshine bank a 9000.00 Maturity value, 120-day note dated June 5, shushines discount rate was 9%. What proceeds did sheffield company receive?
  4. Finance Math

    On June 30, 2007, Simon Company discounted a customer’s $180,000, 6-month, and 10 percent note receivable dated April 30, 2007. A discount rate of 12 percent was charged by the bank. Simon’s proceeds from this discounted note would …
  5. accounting

    Part 5 Cash Budgeting Landis Company has the following sales forecasts for the selected three-month period in the current year: Month Sales April $12,000 May 7,000 June 8,000 Seventy percent of sales are collected in the month of the …
  6. business math

    Mobilee Oil Company accepted a $10,000, 120-day note, dated March 3, at 8.5% to settle a past due accounts receivable. Mobilee Oil discounted the note to raise cash on May 10 at a discounted rate of 9%. What proceeds did Mobilee Oil …
  7. accounting

    Cypress Oil Company's December 31, 2013, balance sheet listed $645,000 of notes receivable and $16,000 of interest receivable included in current assets. The following notes make up the notes receivable balance: Note 1 Dated 8/31/2013, …
  8. Math

    Find the discount (ordinary interest) and proceeds on a promissory note for $2,000 made by Barbara Jones on February 10, 2007, and payable to First State Bank on August 10, 2007, with a discount rate of 9%.
  9. Math

    Find the discount (ordinary interest) and proceeds on a promissory note for $2,000 made by Barbara Jones on February 10, 2007, and payable to First State Bank on August 10, 2007, with a discount rate of 9%.
  10. Business/Finance

    A $120,000, 5% 200-day note dated June 6 is discounted on October 8. The discount period is _______ days. a. 142 b. 67 c. 124 d. 76 C is wrong

More Similar Questions