Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. need help i only have one hour descriptors are pr

Need help i only have one hour Descriptors are provided below for six situations...

80.2K

Verified Solution

Question

Accounting

imageNeed help i only have one hour

Descriptors are provided below for six situations involving notes receivable being discounted at a bank. In each case, the maturity date of the note is December 31, 2018, and the principal and interest are due at maturity. For each, determine the proceeds received from the bank on discounting the note. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar.) Interest Rate Discount Rate Date Proceeds Received Note 1 2 3 4 Date of Note Value 56,0003/31/2018 56,0003/31/2018 56,0003/31/2018 20,000 6/30/2018 20,0006/30/2018 20,0006/30/2018 Discounted 8%, 6/30/2018 8%, 9/30/2018 8%, 9/30/2018 5%, 10/31/2018 5%, 10/31/2018 5%, 11/30/2018 10% 10% 15% 10% 15% 10% 6

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

Gary, a middle aged salesman, complains of a burning pain in the pit of his stomach,...

Chemistry
1.2K views

Based on your copper solid used in RXN 1, how many grams of copper product should...

Programming
1.2K views

5. Modify the program for Line Numbers from L09: In-Class Assignment. Mainly, you are changing the problem from...

Psychology
1.2K views

Do you see any connections between changing social norms and the larger, global issues that face...

Advance Math
1.2K views

When you're switching to the Laplace domain why does differentiation simoly becoem multiplying by s and...

General Management
1.2K views

Questions on Total Murders, from Guns, Knives, and fighting (Hands, fist,Feet) one paragraph for each… Whats the...

Physics
1.2K views

experiences a force of 4 x 10 N Calculate the charge present on Two electrons...

Physics
1.2K views

In a double slit experiment light of wavelength 750 nm and 900 nm illuminates the...

Basic Math
1.2K views

Let S be the ellipsoid(x/4) + ( y/3 ) + (z/2) = 1. Calculate...

Algebra
1.2K views

determine the top 5 winners from 6 contestants 1 2 3 4 5 6 in...

Accounting
1.2K views

THESE ARE EXTRA CREDIT PROBLEMS PROBLEM 7.3B Aging Accounts Receivable; Write-offs Starlight, a Broadway media...

Accounting
1.2K views

Quality Brick Company produces bricks in two processing departmentsMolding and Firing. Information relating to the...