实用会计英语 第二版 高职高专会计与电算化会计类 李海红Chapter 14 Notes Receivable.pptVIP

Notes receivable Promissory Notes Promissory Notes Promissory Notes Maturity date Determining the maturity date Determining the maturity date Determining the maturity date Determining the maturity date Determining the duration of note If the maturity date is stated in a specific number of days from the date of note --the duration is obvious Maturity Value of the note Interest calculation Maturity Value of the interest-bearing note Example Discount Discount Example Discount Example Discount Example Exercise Exercise Exercise Exercise Exercise Exercise 2 2 3 3 4 3 5 3 6 6 8 6 10 11 11 12 12 13 14-* NOTES RECEIVABLE CHAPTER 14 Credit sale: durable goods of high value Promissory note Accounts Receivable Formal Notes Receivable A promissory note is an unconditional promise to pay a definite sum of money on demand or at a future date. Promissory note Maker The person who signs the note and thereby promises to pay Payee The person to whom payment is to be made Promissory Notes $1200 Wheaton, Illinois January 5, 1999 Sixty days after date I promise to pay to the order of Yankee Brothers, Inc. One thousand two hundred --------------------------------- Dollars Payable at Wheaton Mountain Bank Value received with interest at per annum No. Due The Kitchen Taylor 42 March 6, 1999 12% Dennis Taylor $1200 Wheaton, Illinois January 5, 1999 Sixty days after date I promise to pay to the order of Yankee Brothers, Inc. One thousand two hundred --------------------------------- Dollars Payable at Wheaton Mountain Bank Value received with interest at per annum No. Due The Kitchen Taylor 42 March 6, 1999 12% Dennis Taylor Term Payee Maker Due Date Interest Rate Principal The maturity date can be calculated according to the following three methods : 1. a specific date, such as “November 11th, 2006” 2. a specific number of months after the date of the note, such as “2 months after date” 3. a specif