Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. perfect seed inc. signed a $20,000 note requiring

Perfect Seed Inc. signed a $20,000 note requiring 24 monthly payments of principal and interest...

80.2K

Verified Solution

Question

Accounting

Perfect Seed Inc. signed a $20,000 note requiring 24 monthly payments of principal and interest of $947.47 with an annual rate of interest of 12%. After the second monthly payment is made, what is the amount of loan payable to be reported on the balance sheet (rounded to dollars)?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Graph the polynomial function​f(x)=8x5+ 52x4+80x3 and determine the end behavior of the graph of the function.

Basic Math
Q

Preparation of CuCl Reactions: 1) Cu(S) + 4HNO3(aq) -> Cu(NO3)2(aq) + 2NO2(g) + 2H2O(l) 2) 2HNO3(aq) +...

Chemistry
Q

how many moles and numbers of ions each type,are present Iin the following aqueous solution? 51.5...

Chemistry
Q

sometimes the reflex respond is dimsh

Medical Sciences
Q

4 A transparent rod 40 cm long is cut flat at one end and rounded...

Physics
Q

PART E V Answer ANY TWO of the following questions 2x5 10 k Two point...

Physics
Q

Administrative applications may support clinical activities to support positive outcomes of care True False

Basic Math
Q

Listen Solve the inequality Express your answer using 5x 2 3 01 13 O 1...

Basic Math
Q

Find explicit solution for the following differential equations that satisfies the initial condition Please write...

Calculus
Q

stuck on accounting [The following...

Accounting
Q

Determine the amount of taxable income that should be reported by a cash-basis taxpayer in...

Accounting
Q

Two-period binomial tree. A stock has a price of $45, and a standard deviation of...

Finance