owing interest- aring promissory note was discounted at a bank by the payee before maturity. Use the ordinary interest method, 360 days, information. (Round dollars to the nearest cent.) Face Interest Date of Value Rate (%) Note $650 12/1/2 June 8 Date of Discount Sept. 5 Term of Note (days) 135 Discount Period (days) Maturity Date October 21 Discount Rate (%) 15.5 $ $ Maturity Value (in $) Proceeds (in $) calculate the missing
owing interest- aring promissory note was discounted at a bank by the payee before maturity. Use the ordinary interest method, 360 days, information. (Round dollars to the nearest cent.) Face Interest Date of Value Rate (%) Note $650 12/1/2 June 8 Date of Discount Sept. 5 Term of Note (days) 135 Discount Period (days) Maturity Date October 21 Discount Rate (%) 15.5 $ $ Maturity Value (in $) Proceeds (in $) calculate the missing
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
ChapterD: Notes Payable And Notes Receivable
Section: Chapter Questions
Problem 2P
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