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4. When a company issues a promissory note, the accountant records an entry that includes a credit to Note Payable for the (Points : 5) face value of the note. face value of the note plus the interest that will accrue. face value less the interest that will accrue. maturity value of the note.
face value of the note.
Expert answered|margarita|Points 273|
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Asked 8/1/2012 7:41:01 PM
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Discuss how and why interest expense is allocated between measurement periods.
Weegy: interest expense is allocated between measurement periods because interest expense will be computed depending on how long the loan period will be and the loan amount. User: As a business manager should you be concerned when notes payable are used in funding the operations of the business? Weegy: Yes. Those notes payable, well, need to be paid back on time. [ Which means that as the business earns money (hopefully), those notes payable ... (More)
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7. How much interest will accrue on a $20,000 face value, 60-day note that bears interest at 9 percent a year? (Points : 5) $300 $450 $900 $1,800
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Asked 8/1/2012 7:44:20 PM
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