Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. soren enterprises lends alistair corporation $90,0

Soren Enterprises lends Alistair Corporation $90,000 in cash on October 1, 2012, accepting a 6-month,...

90.2K

Verified Solution

Question

Accounting

Soren Enterprises lends Alistair Corporation $90,000 in cash on October 1, 2012, accepting a 6-month, 8% (annual) interest note. Alistair will repay the principal and all interest at the maturity date of the note.

Number of Days in Each Month:

January: 31

February: 28 (for the purposes of this class)

March: 31

April: 30

May: 31

June: 30

July: 31

August: 31

September: 30

October: 31

November: 30

December: 31

What is the maturity date of the note?

March 2, 2013

March 1, 2013

None of the answer choices given

May 2, 2013

April 2, 2013

April 1, 2013

May 1, 2013

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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Describe and explain the optics of the microscope and the telescope.

Physics
Q

1 60 2 100 3 180 4 240 When a plane mirror is placed horizontally...

Physics
Q

For the graph below determine if it represents a function that is increasing or decreasing...

Calculus
Q

What is the domain of the function graphed below 6 33 3 8765432 O x...

Algebra
Q

Economic factors that shorten the service life of an asset include obsolescence. O expiration of...

Accounting
Q

Michael prepares accounts to 31 July every year. He decides to change his accounting date...

Accounting
Q

The inventory policy is to have ending inventory equal to 20% of next months sales....

Accounting
Q

5 d K ces Required information PR 2-38 (Algo) Financial-Statement Elements: Manufacturer (LO 2-5, 2-6)...

Accounting
Q

After all adjustments have been made, but before the accounts have been closed, the following...

Accounting
Q

A Merchandiser

Accounting
Q

Required information Use the following information for the Quick Study below. The following information applies...

Accounting
Q

eBook Show Me How Contribution Margin and Contribution Margin Ratio For a recent year, McDonald's...

Accounting