Use ordinary interest: Principal Rate of Interest Time Maturity Value Date Note Made Date Note Discounted Discount Period Proceeds $18,000 8% 120 days A June 9 September 6

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 1P: Part A: Calculate the interest on the following notes: Part B: Determine the maturity dates on the...
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Use ordinary interest:

Principal

Rate of Interest

Time

Maturity Value

Date Note Made

Date Note Discounted

Discount Period

Proceeds

$18,000

8%

120 days

A

June 9

September 6

 

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