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. | July 10 | $7,200 | 9% | 100 days |
b. | April 14 | 12,000 | 8% | 130 days |
c. | May 19 | 11,200 | 7.5% | 130 days |
d. | June 10 | 5,400 | 8% | 55 days |
e. | October 29 | 30,000 | 8% | 85 days |
Maturity Date | |||
---|---|---|---|
Month | Day | Interest | |
a. | AnswerDecemberNovemberOctoberSeptemberAugustJulyJuneMayAprilMarchFebruaryJanuary | Answer | Answer |
b. | AnswerDecemberNovemberOctoberSeptemberAugustJulyJuneMayAprilMarchFebruaryJanuary | Answer | Answer |
c. | AnswerDecemberNovemberOctoberSeptemberAugustJulyJuneMayAprilMarchFebruaryJanuary | Answer | Answer |
d. | AnswerDecemberNovemberOctoberSeptemberAugustJulyJuneMayAprilMarchFebruaryJanuary | Answer | Answer |
e. | AnswerDecemberNovemberOctoberSeptemberAugustJulyJuneMayAprilMarchFebruaryJanuary | Answer | Answer |