Compute the maturity value as indicated for each of the following notes receivable. (Use 360 days for calculat 1. An $8,500, 8%, 3-month note dated April 20. Maturity value $ 2. A $28,500, 8%, 72-day note dated March 5.

Compute the maturity value as indicated for each of the following notes receivable. (Use 360 days for calculat 1. An $8,500, 8%, 3-month note dated April 20. Maturity value $ 2. A $28,500, 8%, 72-day note dated March 5.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Compute the maturity value as indicated for each of the following notes receivable. (Use 360 days for calculation.)
1. An $8,500, 8%, 3-month note dated April 20.
Maturity value $
2.A $28,500, 8%, 72-day note dated March 5.
Maturity value $
3.A $13,400, 6%, 30-day note dated September 10.
Maturity value $
4. A $6,400,7%, 6-month note dated November 15.
Maturity value $

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