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Blue Spruce Corp. has three notes payable outstanding on December 31, 2020, as follows: 1. A six-year, 6%, $66,000 note payable issued on March 31,
Blue Spruce Corp. has three notes payable outstanding on December 31, 2020, as follows:
1. | A six-year, 6%, $66,000 note payable issued on March 31, 2020. Blue Spruce Corp. is required to pay $11,000 plus interest on March 31 each year starting in 2021. | |
2. | A seven-month, 5%, $32,000 note payable issued on July 1, 2020. Interest and principal are payable at maturity. | |
3. | A 30-month, 6%, $132,000 note payable issued on September 1, 2020. Blue Spruce Corp. is required to pay $4,400 plus interest on the first day of each month starting on October 1, 2020. All payments are up to date. |
Calculate the current portion of each note payable.
Current Portion | ||
---|---|---|
Note 1 | $enter a dollar amount | |
Note 2 | $enter a dollar amount | |
Note 3 | $enter a dollar amount |
eTextbook and Media
Calculate the non-current portion of each note payable.
Non-Current Portion | ||
---|---|---|
Note 1 | $enter a dollar amount | |
Note 2 | $enter a dollar amount | |
Note 3 | $enter a dollar amount |
eTextbook and Media
Calculate any interest payable at December 31, 2020.
Interest Payable | ||
---|---|---|
Note 1 | $enter a dollar amount | |
Note 2 | $enter a dollar amount | |
Note 3 | $enter a dollar amount |
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