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Maturity Dates of Notes Receivable Determine the maturity date and compute the interest for each of the following notes: (Use 360 days for interest calculation. Round to the nearest dollar.) Date of Note Interest Rate Term 8% 120 days a. August 5 Principal $6,000 16,800 25,000 b. May 10 7% 30 days c. October 20 9% 45 days d. July 06 4,500 1196 60 days e. September 15 9,000 996 75 days

Maturity Dates of Notes Receivable Determine the maturity date and compute the interest for each of the following notes: (Use 360 days for interest calculation. Round to the nearest dollar.) Date of Note Interest Rate Term 8% 120 days a. August 5 Principal $6,000 16,800 25,000 b. May 10 7% 30 days c. October 20 9% 45 days d. July 06 4,500 1196 60 days e. September 15 9,000 996 75 days

FINANCIAL ACCOUNTING
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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Determine the maturity date and compute the interest of each of the following notes: (use 360 days for interest calculation. Round to the nearest dollar) The options for the shaded blanks A - E are the months January through December.
Maturity Dates of Notes Receivable Determine the maturity date and compute the interest for each of the following notes: (Use 360 days for interest calculation. Round to the nearest dollar.) Date of Note Principal Interest Rate Term 8% 120 days 796 a. August 5 $6,000 16,800 b. May 10 30 days c. October 20 25,000 9% 45 days d. July 06 4,500 119 60 days e. September 15 9,000 9% 75 days Maturity Date Month Day a. + b. C. d. e. ***** 0 $ 0 0 0 0 Interest 0 0 oo 0
Transcribed Image Text:Maturity Dates of Notes Receivable Determine the maturity date and compute the interest for each of the following notes: (Use 360 days for interest calculation. Round to the nearest dollar.) Date of Note Principal Interest Rate Term 8% 120 days 796 a. August 5 $6,000 16,800 b. May 10 30 days c. October 20 25,000 9% 45 days d. July 06 4,500 119 60 days e. September 15 9,000 9% 75 days Maturity Date Month Day a. + b. C. d. e. ***** 0 $ 0 0 0 0 Interest 0 0 oo 0
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