All american storage corporation sold merchandise with credit terms of 2/10, n/30, for $1000000 to a customer on Jaunary 01, 2012. Nine months later, On October 1, 2912 the company accepted a 12%, 6 month note receivable, in settlement of the account. the customer paid the maturity value of the note on the due date
我唔係好明條題問咩?
有冇人可以講一講我知..唔該
求救~Financial Acc
2012-03-02 8:48 am
回答 (1)
2012-03-05 2:16 pm
✔ 最佳答案
While it is not specified, one would interpret the question as "how much did the customer pay on the due date?"The crucial factor is "what is the face value of the note receivable ?".
Based on the credit terms, the customer could settle the account on or before January 11, 2012 for $980,000, or on March 2, 2012 for $1,000,000. Since he didn't make either payments, and the crdit terms did not mention interest penalty for late payment, the customer owed $1,000,000 on Oct.1, 2012.
Therefore, the face value of the note receivable agreed upon on Oct. 1, 2012 is $1,000,000, at an interest rate of 12% per annum, due on Apr 1, 2013.
On the maturity date (Apr.1, 2013), the customer paid $1,060,000 to settle the note, being $1,000,000 for the principal, and $60,000 for interest of 6 months at 12% per annum.
2012-03-05 06:19:35 補充：
Correction:
On paragraph 3, "March 2" should have been "Feb 1".
參考: My past learning
收錄日期: 2021-04-25 23:34:30
原文連結 [永久失效]:
https://hk.answers.yahoo.com/question/index?qid=20120302000051KK00033