May 30 Discounted the $36,000 note at a local bank. The bank’s discount rate is 8%. The note was discounted without recourse and the sale criteria are met. I need help calculating cash received may 30,2018The journal entries are as followCash??Loss on sale of note receivable ?? Notes Receivable 36000 Interest Receivable 420 Aug. 31 Sold stock in a nonpublic company with a book value of $6,200 and accepted a $7,200 noninterest-bearing note with a discount rate of 8%. The $7,200 payment is due on February 28, 2019. The stock has no ready market value. I'm having problems calculating gain on sale of investment and discount on note receivable

May 30 Discounted the $36,000 note at a local bank. The bank’s discount rate is 8%. The note was discounted without recourse and the sale criteria are met. I need help calculating cash received may...

May

Discounted the $36,000 note at a local bank. The bank’s discount rate is 8%. The note was discounted without recourse and the sale criteria are met.

I need help calculating cash received may 30,2018

The journal entries are as follow

Cash??

Loss on sale of note receivable ??

Notes Receivable 36000

Interest Receivable 420

Aug.

Sold stock in a nonpublic company with a book value of $6,200 and accepted a $7,200 noninterest-bearing note with a discount rate of 8%. The $7,200 payment is due on February 28, 2019. The stock has no ready market value.

I'm having problems calculating gain on sale of investment and discount on note receivable

Jun 01, 2022

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May 30 Discounted the $36,000 note at a local bank. The bank’s discount rate is 8%. The note was discounted without recourse and the sale criteria are met. I need help calculating cash received may...

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