Required information [The following information applies to the questions displayed below.) On August 1, 2022, Colombo Company's treasurer signed a note promising to pay $120,300 on December 31, 2022. The proceeds of the note were $114,900. Required: a. Calculate the discount rate used by the lender. Note: Enter your answer as a percentage rounded to 1 decimal place (i.e., 32.1). Discount rate 11.3 % Required information [The following information applies to the questions displayed below:] On August 1, 2022, Colombo Company's treasurer signed a note promising to pay $120,300 on December 31, 2022. The proceeds of the note were $114,900. b. Calculate the effective interest rate (APR) on the loan. Note: Enter your answer as a percentage rounded to 1 decimal place (i.e., 32.1). Effective interest rate 11.8% Required information [The following information applies to the questions displayed below] On August 1, 2022, Colombo Company's treasurer signed a note promising to pay $120,300 on December 31, 2022. The proceeds of the note were $114,900. c. 1. Use the horizontal model to show the effects of signing the note and the receipt of the cash proceeds on August 1. 2022. Indicate the financial statement effect 2. Use the horizontal model to show the effects of recording interest expense for the month of September, indicate the financial statement effect. 3. Use the horizontal model to show the effects of repaying the note on December 31, 2022. Indicate the financial statement effect. Complete this question by entering your answers in the tabs below. Required C1 Required C2 Required C3 Use the horizontal model to show the effects of repaying the note on December 31, 2022. Indicate the financial statement effect. Note: Enter decreases with a minus sign to indicate a negative financial statement effect. Assets Cash 120.300 Balance Sheet Liabilities Income Statement Stockholders' Equity Net Income Revenues Required information [The following information applies to the questions displayed below.] On August 1, 2022, Colombo Company's treasurer signed a note promising to pay $120,300 on December 31, 2022. The proceeds of the note were $114,900. c. 1. Record the journal entry to show the effects of signing the note and the receipt of the cash proceeds on August 1, 2022. 2. Record the journal entry to show the effects of recording interest expense for the month of September. 3. Record the journal entry to show the effects of repaying the note on December 31, 2022. Complete this question by entering your answers in the tabs below. Required C1 Required C2 Required C3 Record the journal entry to show the effects of signing the note and the receipt of the cash proceeds on August 1, 2022, Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet Record the proceeds of a short-term note pavable (discount basis). Prev > 9 Navi