{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-29T01:24:51-04:00", "answer_date": "2024-06-29 01:24:51", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4438331", "url": "\/study-help\/questions\/notes-receivable-topic-what-is-the-amount-collected-on-2-4438331", "question_creation_date_js": "2024-06-29T01:24:51-04:00", "question_creation_date": "Jun 29, 2024 01:24 AM", "meta_title": "[Solved] Notes Receivable topic What is the amount | SolutionInn", "meta_description": "Answer of - Notes Receivable topic What is the amount collected on 2 points December 31, 2019 on defaulted B Company note? Assumin | SolutionInn", "meta_keywords": "notes,receivable,topic,amount,collected,2,points,december,31,2019,defaulted,company", "question_title_h1": "Notes Receivable topic What is the amount collected on 2 points December 31, 2019 on defaulted B Company note? Assuming AJerjer Co. has the following", "question_title": "Notes Receivable topic What is the amount collected on 2 points December", "question_title_for_js_snippet": "Notes Receivable topic What is the amount collected on 2 points December 31, 2019 on defaulted B Company note Assuming AJerjer Co has the following transactions in 2019 involving notes receivables May 1 Received a P1, 000,000, 90 day, 12 interest bearing note from A Company in settlement of account 1 Received a P1, 500,000, 6 month, 12 interest bearing note from B Company in settlement of account July 30 A Company defaulted on the P1,000,000 note Aug 1 Discounted the B Company note at a bank at 15 Sept 1 Received a one year noninterest bearing note from C Company in settlement of a P600,000 account receivable The face value of the note was P660,000 30 Collected the defaulted A Company note plus accrued interest at 12 per annum on the total amount do Oct 1 Received a P2, 500,000, 90 day note from D Company The note is for the payment goods purchased and bears interest at 12 Nov 1 B Company defaulted on the P1,500,000 note Ajerjer Co paid the bank the total amount due plus P60, 000 for protest fee and other bank charges Dec 30 Collected D Company note in full 31 Collected from B Company in full including interest on the total amount due at 12 since default date Your", "question_description": "

Notes Receivable topic <\/p>

\"image<\/div><\/div><\/div> What is the amount collected on 2 points December 31, 2019 on defaulted B Company note? Assuming AJerjer Co. has the following transactions in 2019 involving notes receivables: * May 1 Received a P1, 000,000, 90-day, 12% interest bearing note from A Company in settlement of account. 1 Received a P1, 500,000, 6-month, 12% interest bearing note from B Company in settlement of account. July 30 A Company defaulted on the P1,000,000 note. Aug. 1 Discounted the B Company note at a bank at 15%. Sept. 1 Received a one-year noninterest bearing note from C Company in settlement of a P600,000 account receivable. The face value of the note was P660,000. 30 Collected the defaulted A Company note plus accrued interest at 12% per annum on the total amount do Oct. 1 Received a P2, 500,000, 90-day note from D Company. The note is for the payment goods purchased and bears interest at 12% Nov. 1 B Company defaulted on the P1,500,000 note. Ajerjer Co. paid the bank the total amount due plus P60, 000 for protest fee and other bank charges. Dec. 30 Collected D Company note in full. 31 Collected from B Company in full including interest on the total amount due at 12% since default date. Your", "transcribed_text": "", "related_book": { "title": "Intermediate Accounting", "isbn": "470964731, 978-0470964736, 978-0470161012", "edition": "9th Canadian Edition, Volume 2", "authors": "Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/516.jpg", "uri": "\/textbooks\/intermediate-accounting-9th-canadian-edition-volume-2-516", "see_more_uri": "" }, "free_related_book": { "isbn": "B09B7L4L8V", "uri": "\/textbooks\/shine-blender-dustproof-cover-b09b7l4l8v", "name": "Shine Blender Dustproof Cover", "edition": "" }, "question_posted": "2024-06-29 01:24:51", "see_more_questions_link": "\/study-help\/questions\/business-economics-2023-September-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/find-the-exact-magnetic-field-a-distance-z-above-the", "description": "Find the exact magnetic field a distance z above the center of a square loop of side w, carrying a current 1. Verify that it reduces to the field of a dipole, with the appropriate dipole moment, when...", "stars": 3 }, { "url": "\/study-help\/psychology\/review-the-same-test-and-determine-to-what-extent-you-1979914", "description": "Review the same test and determine to what extent you think it is appropriate for males and females, people of different racial and ethnic backgrounds, people whose primary language is not English,...", "stars": 3 }, { "url": "\/abby-bergen-has-recently-been-hired-as-the-manager-of", "description": "Abby Bergen has recently been hired as the manager of Stellas Coffee, a national chain of franchised coffee shops. During her first month as store manager, Abby encountered the following internal...", "stars": 3 }, { "url": "\/study-help\/questions\/processes-produce-outputs-over-time-o-true-ofalse-9852022", "description": "Processes produce outputs over time. O True OFalse", "stars": 3 }, { "url": "\/study-help\/questions\/1bob-owns-a-used-car-dealership-all-of-his-revenue-4261031", "description": "1.Bob owns a used car dealership. All of his revenue is from cash sales or in-house financing. Which method of presenting cash flows should he use and why? Direct method because some of his sales do...", "stars": 3 }, { "url": "\/study-help\/questions\/a-client-has-expressed-concern-about-schema-changes-occurring-without-792342", "description": "A client has expressed concern about schema changes occurring without their data platform team's knowledge. Which step in proactive data observability helps detect this issue?", "stars": 3 }, { "url": "\/study-help\/questions\/generate-a-publicprivate-key-pair-and-use-the-private-key-792348", "description": "Generate a public\/private key pair and use the private key to encrypt the message \"Hello Professor\". Use the tool and instruction at https:\/\/cryptotools.net\/rsagen or any other key generator.", "stars": 3 }, { "url": "\/study-help\/questions\/a-wellinsulated-2m-3-rigid-tank-contains-saturated-ammonia-at-792674", "description": "A well-insulated 2-m 3 rigid tank contains saturated ammonia at 40 C. Initially, the tank contains 50% (volume based) of this ammonia in liquid form and the rest (50%) in vapor form. The valve (on...", "stars": 3 }, { "url": "\/study-help\/questions\/a-combustion-unit-is-burning-refused-derived-fuel-rdf-consisting-792710", "description": "A combustion unit is burning refused derived fuel (RDF) consisting of 88% organics, 7% water, and 5% inorganics (inerts) at a rate of 1000 kg h. Assume the heat value of the fuel to be 17,000 kJ\/kg...", "stars": 3 }, { "url": "\/study-help\/questions\/a-4m-long-150kg-steel-beam-is-attached-to-a-793235", "description": "A 4-m long, 150-kg steel beam is attached to a wall with one end connected to a hinge that allows the beam to rotate up and down. The other end of the beam is held in a horizontal position with a...", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/explain-the-managers-role-in-organization-of-a-small-versus-4438330", "next": "\/study-help\/questions\/ltc-company-a-manufacturing-firm-had-the-following-inventory-balances-4438332" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": "Notes Receivable topic What is the amount collected on 2 points December", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/notes-receivable-topic-what-is-the-amount-collected-on-2-4438331" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } }: "1" } }