On September 1, 2018, Able Company purchased a building from Regal Corporation by paying $240,000 cash and issuing a one-year note payable for the balance of the purchase price. Interest on the note is stated at an annual rate of 6% and is paid at maturity. In its December 31, 2018, balance sheet, Able correctly presented the note and interest payable as follows: Interest payable $ 4,100 Notes payable, 6%, due September 1, 2019 $ 205,000 How much must Able pay Regal Corporation on September 1, 2019, when the note matures

Capital financial corporation will lend 90 percent against account balances that have averaged 30 days or less; 80 percent for account balances between 31 and 40 days; and 70 percent for account balances between 41 and 45 days. customers that take over 45 days to pay their bills are not considered acceptable accounts for a loan. the current prime rate is 16.50 percent, and capital charges 3.50 percent over prime to charming as its annual loan rate. a. determine the maximum loan for which charming paper company could qualify.