Maurice Tutor

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    Argosy University/ Phoniex University/
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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 11 Aug 2017 My Price 7.00

Wilmar Corporation

On February 11, 2011, Wilmar Corporation borrowed $100,000 from its bank by signing a 12 percent, 15-year note payable. The note calls for 180 monthly payments of $1,200. Each payment includes an interest and a principal component.

a. Compute the interst expense in February.

b. Compute the protion of Wilmar's March 31, 2011, $1,200 payment that will be applied to the principal of the note.

c. Compute the carrying value of the note on April 30, 2011 (round to the nearest dollar).

Answers

Maurice Tutor
(5)
Status NEW Posted 11 Aug 2017 12:08 PM My Price 7.00

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