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Notes Receivable - Effective Interest Method On January 1, 2018, Tolson Company accepted a 13% note dated January 1, 2018 with a face amount of
| Notes Receivable - Effective Interest Method | ||||||||
| On January 1, 2018, Tolson Company accepted a 13% note dated January 1, 2018 with a face amount of $2,495,000 in exchange for cash. The note is due in 10 years. A note with similar risk has a market interest rate of 15%. Interest is paid each December 31st. | ||||||||
a)Using an excel spreadheet, calculate the present value of the note receivable.
B)Complete the amortization table using excel formulas when possible:
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An Environmental Audit Primer Student Guide
Authors: Velsoft Training Materials, Inc.
1st Edition
1774550393, 978-1774550397
