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OBJ. 6 EX 9-19 Determine due date and interest on notes Determine the due date and the amount of interest due at maturity on the following notes dated in 2016: Date of Note Face Amount Interest Rate Term of Note 120 days 30 days 45 days 90 days 90 days 6% January 3* February 20* May 24 August 30 October 4 $80,000 a. b. 27,000 8 62,500 30,000 C. d. e. 40,000 7 February 2016 has 23 days

OBJ. 6 EX 9-19 Determine due date and interest on notes Determine the due date and the amount of interest due at maturity on the following notes dated in 2016: Date of Note Face Amount Interest Rate Term of Note 120 days 30 days 45 days 90 days 90 days 6% January 3* February 20* May 24 August 30 October 4 $80,000 a. b. 27,000 8 62,500 30,000 C. d. e. 40,000 7 February 2016 has 23 days

Financial & Managerial Accounting
Financial & Managerial Accounting
13th Edition
ISBN:9781285866307
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter8: Receivables
Section: Chapter Questions
Problem 8.19EX
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ter 9 Receivables OBJ. 6 EX 9-19 Determine due date and interest on notes ,600 Determine the due date and the amount of interest due at maturity on the following notes dated in 2016: Date of Note Face Amount Interest Rate Term of Note 120 days 30 days 45 days 90 days 90 days $80,000 6% January 3* February 20* May 24 August 30 October 4 a. b. 27,000 4. C. 62,500 8 d. 30,000 e. 40,000 * February 2016 has 23 days
Transcribed Image Text:ter 9 Receivables OBJ. 6 EX 9-19 Determine due date and interest on notes ,600 Determine the due date and the amount of interest due at maturity on the following notes dated in 2016: Date of Note Face Amount Interest Rate Term of Note 120 days 30 days 45 days 90 days 90 days $80,000 6% January 3* February 20* May 24 August 30 October 4 a. b. 27,000 4. C. 62,500 8 d. 30,000 e. 40,000 * February 2016 has 23 days
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