A company borrowed $19,000 by signing a 180-day promissory note at 10%. The total to be paid at maturity of the note is: (Use 360 days a year.)Multiple Choice$22,895.00$23,275.00$19,950.00$24,225.00$24,700.00

On November 1, 20X1, a company signed a $200,000, 12%, six-month note payable with the amount borrowed plus accrued interest due six months later on May 1, 20X2. The company should record the following adjusting entry at December 31, 20X1:Multiple ChoiceDebit Interest Expense and credit Cash, $12,000.Debit Interest Expense and credit Interest Payable, $12,000.Debit Interest Expense and credit Interest Payable, $4,000.Debit Interest Expense and credit Cash, $4,000.

Long-term Notes Payable was $20 million at the beginning of the year and $30 million at the end. During the year an additional $15 million was borrowed. Repayments on the statement of cash flow during the year were ______.Multiple choice question.$25 million under investing activities$25 million under financing activities$(35) million under financing activities$(5) million under financing activities$(5) million under investing activities$(35) million under investing activities

On December 1, Christy Co. accepted a 60-day, 6%, $1,000 note due January 30. On December 31, the appropriate year-end adjusting entry was made. On January 30, the note was honored and paid in full. The entry to record receipt of payment on January 30 (assuming no reversing entry was made) would include a credit to:Multiple select question.Notes Receivable for $1,000.Interest Receivable for $5.Interest Revenue for $5.Interest Revenue for $10.Cash for $1,010.

A company borrows money as needed on the first day of the month and repays principal and interest on the last day of the budget period, if cash is available.  For the second quarter of the year, they borrowed $10,000 in April, $8,000 in May and $5,000 in June.  The interest rate is 1% per month.  Assuming enough money is available on June 30th to repay the debt, the total amount of interest due is Blank______.Multiple choice question.$560$230$690

Valley Spa purchased $10,400 in plumbing components from Tubman Company. Valley Spa signed a 45-day, 7% promissory note for $10,400. If the note is dishonored, what is the amount due on the note? (Use 360 days a year.)Multiple Choice$91$10,730$10,650$10,400$10,491