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Alghnmi tt Alghnmi tt
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2 years ago
MART Co. makes a loan to Mary Co. and receives in exchange a Five-year, $500,000 note bearing interest at 11 percent annually. The market rate of interest for a note of similar risk is 15 percent.  How does MART record the receipt of the note?

Instructions:
1.   Determine the present value of the note.
2.   Prepare a schedule of Note Discount or premium Amortization for MART Company.
3.   Prepare journal entries for interest- bearing note.


can anyone help me please Frowning Face Frowning Face?
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2 years ago Edited: 2 years ago, bio_man
Hi Alghnmi tt

Please see an example question with solution below.

Hopefully it helps, respond back if you need further assistance.
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Alghnmi t. Author
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#2
2 years ago
Quote from: bio_man (2 years ago)
Hi Alghnmi tt

Please see an example question with solution below.

Hopefully it helps, respond back if you need further assistance.
the problem is i can not understand the homework Crying Face
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