On June $1,2018,$ Angel Corp received $$289,747\mathrm{.}18$ in exchange for a $5-$year non$-$interest bearing note with a face value of $$350,000$ due on June $1,2023.$ What is the imputed rate of interest on this note?

Select one:

a$.9\%$

b$.4\%$

c$.7\%$

d$.6\%$

On June $1,2018,$ Angel Corp received $$289,747\mathrm{.}18$ in exchange for a $5-$year non$-$interest bearing note with a face value of $$350,000$ due on June $1,2023.$ What is the imputed rate of interest on this note?

Select one:

a$.9\%$

b$.4\%$

c$.7\%$

d$.6\%$

On June $1,2018,$ Angel Corp received $$289,747\mathrm{.}18$ in exchange for a $5-$year non$-$interest bearing note with a face value of $$350,000$ due on June $1,2023.$ What is the imputed rate of interest on this note?

Select one:

a$.9\%$

b$.4\%$

c$.7\%$

d$.6\%$

On $10/1/2018,$ Marley Company issues a $3-$year interest bearing note payable with a face value of $$60,000$ to Nelson Company in exchange for equipment. The note has a stated interest rate of $4\%,$ which is compounded annually. Interest payments are due on $10/1$ of each year. Which of the following would be included in Marley's $12/31/2018$ adjusting journal entry related to this note?

Select one:

a$.$ Credit of $$2,400$ to the Interest Payable account $.$

b$.$ Credit of $$600$ to the Interest Payable account

c$.$ Debit of $$2,400$ to the Interest Payable account

d$.$ Credit of $$600$ to the Notes Payable account

On $10/1/2018,$ Marley Company issues a $3-$year interest bearing note payable with a face value of $$60,000$ to Nelson Company in exchange for equipment. The note has a stated interest rate of $4\%,$ which is compounded annually. Interest payments are due on $10/1$ of each year. Which of the following would be included in Marley's $12/31/2018$ adjusting journal entry related to this note?

Select one:

a$.$ Credit of $$2,400$ to the Interest Payable account $.$

b$.$ Credit of $$600$ to the Interest Payable account

c$.$ Debit of $$2,400$ to the Interest Payable account

d$.$ Credit of $$600$ to the Notes Payable account

On June $1,2018,$ Angel Corp received $$289,747\mathrm{.}18$ in exchange for a $5-$year non$-$interest bearing note with a face value of $$350,000$ due on June $1,2023.$ What is the imputed rate of interest on this note?

Select one:

a$.9\%$

b$.4\%$

c$.7\%$

d$.6\%$

On June $1,2018,$ Angel Corp received $$289,747\mathrm{.}18$ in exchange for a $5-$year non$-$interest bearing note with a face value of $$350,000$ due on June $1,2023.$ What is the imputed rate of interest on this note?

Select one:

a$.9\%$

b$.4\%$

c$.7\%$

d$.6\%$

On June $1,2018,$ Angel Corp received $$289,747\mathrm{.}18$ in exchange for a $5-$year non$-$interest bearing note with a face value of $$350,000$ due on June $1,2023.$ What is the imputed rate of interest on this note?

Select one:

a$.9\%$

b$.4\%$

c$.7\%$

d$.6\%$

On June $1,2018,$ Angel Corp received $$289,747\mathrm{.}18$ in exchange for a $5-$year non$-$interest bearing note with a face value of $$350,000$ due on June $1,2023.$ What is the imputed rate of interest on this note?

Select one:

a$.9\%$

b$.4\%$

c$.7\%$

d$.6\%$

On $10/1/2018,$ Marley Company issues a $3-$year interest bearing note payable with a face value of $$60,000$ to Nelson Company in exchange for equipment. The note has a stated interest rate of $4\%,$ which is compounded annually. Interest payments are due on $10/1$ of each year. Which of the following would be included in Marley's $12/31/2018$ adjusting journal entry related to this note?

Select one:

a$.$ Credit of $$2,400$ to the Interest Payable account $.$

b$.$ Credit of $$600$ to the Interest Payable account

c$.$ Debit of $$2,400$ to the Interest Payable account

d$.$ Credit of $$600$ to the Notes Payable account

On $10/1/2018,$ Marley Company issues a $3-$year interest bearing note payable with a face value of $$60,000$ to Nelson Company in exchange for equipment. The note has a stated interest rate of $4\%,$ which is compounded annually. Interest payments are due on $10/1$ of each year. Which of the following would be included in Marley's $12/31/2018$ adjusting journal entry related to this note?

Select one:

a$.$ Credit of $$2,400$ to the Interest Payable account $.$

b$.$ Credit of $$600$ to the Interest Payable account

c$.$ Debit of $$2,400$ to the Interest Payable account

d$.$ Credit of $$600$ to the Notes Payable account