Date of Note Face Amount Interest Rate Term of Note ETTI January 10 March 19 $40,000 18,000 90 days 180 days 30 days 90 days 60 days 5% b. 8. June 5 September 8 November 20 C. 90.000 d. 36,000 e. 27,000 *Assume that February has 28 days.

Date of Note Face Amount Interest Rate Term of Note ETTI January 10 March 19 $40,000 18,000 90 days 180 days 30 days 90 days 60 days 5% b. 8. June 5 September 8 November 20 C. 90.000 d. 36,000 e. 27,000 *Assume that February has 28 days.

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

Determine the due date and the amount of interest due at maturity on the following notes:

Date of Note
Face Amount
Interest Rate
Term of Note
ETTI
January 10
March 19
$40,000
18,000
90 days
180 days
30 days
90 days
60 days
5%
b.
8.
June 5
September 8
November 20
C.
90.000
d.
36,000
e.
27,000
*Assume that February has 28 days.

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