FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On November 1, 2021, FDN Trading accepted a 90-day, 8% P19,000,000 note from ABC Co. FDN immediately discounted with recourse the note to a bank

image text in transcribed
On November 1, 2021, FDN Trading accepted a 90-day, 8% P19,000,000 note from ABC Co. FDN immediately discounted with recourse the note to a bank that offers a 13% discount rate. On maturity date, ABC Co dishonoured the note. The bank charged processing fee of P80,000. How much is the total receivable of FDN Trading from ABC Co

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management And Cost Accounting

Management And Cost Accounting

Authors: Charles T. Horngren (Author), Alnoor Bhimani (Author), Srikant M. Datar (Author), George Foster

2nd Edition

0273651838, 978-0273651833

More Books

Students also viewed these Accounting questions

Question

★★★★★
From 1946 to 1990, the Big Ten Conference consisted of the University of Illinois, Indiana University, University of Iowa, University of Michigan, Michigan State University, University of Minnesota,...

Answered: 1 week ago

Question

★★★★★
Felix Financial Training pays $4000 per month for rent and utilities and $600 per month for auto insurance. The company pays its training consultants $100 per hour. The training sessions are...

Answered: 1 week ago

Question

★★★★★
Online Goal Management Go to the Chapter 3 section of www.mhhe.com/waitley5e for the link to a Web site that lets you select and manage your goals online. Explore the premade Goalplans on the site...

Answered: 1 week ago

Question

★★★★★
Barret Cameron, a student in Professor Wagners managerial accounting course, asked the following question. In the first accounting course, the teacher said inventory costs flow on a FIFO, LIFO, or...

Answered: 1 week ago

Question

★★★★★
13 e Back Archive Es Move m Delete Spam Mon, Jun 29 at 11:27 AM david smith davidsmithpak@yahoo.com To: david smith Problem 18-01 Profit or Loss on New Stock Issue Security Brokers Inc. specializes...

Answered: 1 week ago

Question

★★★★★
The mean amount of time it takes a kidney stone to pass is 15 days and the standard deviation is 5 days. Suppose that one individual is randomly chosen. Let X = time to pass the kidney stone. Round...

Answered: 1 week ago

Question

★★★★★
A particle of mass \( m \) moves under the influence of a conservative force described by the potential energy function \( U(x) = \frac{kx^2}{2} \), where \( k \) is a constant and \( x \) is the...

Answered: 1 week ago

Question

★★★★★
A 2 kg block slides on a horizontal frictionless surface with a velocity of 4 m/s. It collides elastically with a stationary block of mass 3 kg. Determine the final velocities of both blocks after...

Answered: 1 week ago

Question

★★★★★
A satellite of mass 500 kg is orbiting Earth at an altitude where the gravitational acceleration is \( 7.5 \, \text{m/s}^2 \). Calculate the gravitational force acting on the satellite and the...

Answered: 1 week ago

Question

★★★★★
Question 1 Calculate the limit: \[ \lim_{{x \to 0}} \frac{\sin(5x)}{x} \] Question 2: Find the derivative of the function \( f(x) = x^3 - 3x^2 + 4x - 7 \).

Answered: 1 week ago

Question

★★★★★
Question 1: Evaluate the integral: \[ \int (2x^2 - 3x + 5) \, dx \] Question 2: Determine the convergence or divergence of the improper integral: \[ \int_1^\infty \frac{1}{x^2} \, dx \] Question 3:...

Answered: 1 week ago

Question

★★★★★
Identify the various performance criteria (standards) that can be established.

Answered: 1 week ago

Question

★★★★★
Explain the use of the employment interview.

Answered: 1 week ago

Question

★★★★★
Identify environmental factors that affect the selection process.

Answered: 1 week ago

Previous Question Next Question