In: Accounting
Maturity Dates of Notes Receivable Determine the maturity date and compute the interest for each of the following notes: (Use 360 days for interest calculation. Round to the nearest dollar.)
Date of Note |
Principal |
Interest Rate |
Term |
|
---|---|---|---|---|
a. | August 5 | $12,000 | 8% | 45 days |
b. | May 10 | 33,600 | 7% | 75 days |
c. | October 20 | 48,000 | 9% | 120 days |
d. | July 06 | 9,000 | 10% | 45 days |
e. | September 15 | 18,000 | 8% | 90 days |