INTERM.ACCT.:REPORTING...-CENGAGENOWV2
3rd Edition
ISBN: 9781337909358
Author: WAHLEN
Publisher: CENGAGE L
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Chapter 6, Problem 18E
Computing the Proceeds from the Sale of Notes Receivable Below are several customer notes receivable that were sold without recourse.
- 1. An $8,000, 60-day, non-interest-bearing note sold after 15 days at 12%.
- 2. A $9,000, 12%, 60-day note sold alter 30 days at 14%
- 3. A $6,000, 10%, 90-day note sold after 30 days at 12%
- 4. A $10,000, 12%, 120-day note sold after 45 days at 15%
Determine the proceeds from each of the preceding sales of customer notes receivable. (Assume a 360-day year.)
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Chapter 6 Solutions
INTERM.ACCT.:REPORTING...-CENGAGENOWV2
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