Question
Problem 8-11A Notes receivable LO4 Vauxall Holdings showed the following information regarding its notes receivable: Interest Note Date of Note Principal Rate Term Maturity
Problem 8-11A Notes receivable LO4 Vauxall Holdings showed the following information regarding its notes receivable: Interest Note Date of Note Principal Rate Term Maturity Date: Days of Accrued Interest at Dec. 31, 2020 Accrued Interest at Dec. 31, 2020* 1 Nov. 1/19 $280,000 4.0% 180 days 2 Jan. 5/20 116,000 5.0% 90 days 3 Nov. 4 Dec. 20/20 10/20 106,000 140,000 4.5% 45 days 5.5% 30 days "Round calculations to the nearest whole cent. Required: For each of Vauxall Holdings note receivable given below: (Do not round intermediate calculations. Round the "Amount of Accrued Interest at Dec. 31, 2020" answers to 2 decimal places.) a. Determine the maturity date. b. Calculate the days of accrued interest, if any, at December 31, 2020 (Vauxall Holdings' year-end). c. Calculate the amount of accrued interest, if any, at December 31, 2020. Interest Note Date of Note Principal Rate Term Maturity Date Days of Accrued Interest at Dec. 31, 2020 Amount of Accrued Interest at Dec. 31, 2020 1 Nov. 1/19 $280,000 4.0% 180 days days 2 Jan 5/201 $ 116,000 5.0% 90 days days 3 Nov 20/20 $100,000 45% 45 days days 4 Dec. 10/20 $ 140,000 5.5% 30 days days
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