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  3. part 2 what is the net interest income or expense

Part 2 What is the net interest income or expense to be reported from these...

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Accounting

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Part 2
What is the net interest income or expense to be reported from these transactions assuming all notes are paid when due?
Check my work The notes receivable held by the Tuttle Company on August 3, 20x1, are summarized below. On August 4, 20X1. Tuttle discounted all of these notes at Community Bank and Trust at a discount rate of 10 percent. Interest Rate Bote 31 32 33 Date Apr. 4, 20x1 June 11,20x1 July 31,20x2 Face Mount $50,000 15,000 12,000 Period 6 months 120 days 6 day 60 ION Required: Compute the net proceeds received from discounting each note. Analyze: What is the net interest income or expense to be reported from these transactions assuming all notes are paid when due? Complete this question by entering your answers in the tabs below. Net Proceeds Analyze Compute thelnet proceeds received from discounting each note. (Use 360 days a year to compute the discount. Do not round intermediate calculations and round your final answers to 2 decimal places) Note 31 Note 32 Note 33 Net Proceeds 5 0.00 $ 0.00 $ 0.00 Analyse >

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