Determine the due date and the amount of interest due at maturity on the following notes: Date of Note Face Amount Interest Rate Term of Note Due Date Interest (1) Jun 1 $20,000 3% 40 days (2) June 30 9,000 3% 180 days (3) March 30 12,000 5% 45 days (4) March 1 10,000 5% 60 days (5) January 15 8,000 4% 60 days

Determine the due date and the amount of interest due at maturity on the following notes: Date of Note Face Amount Interest Rate Term of Note Due Date Interest (1) Jun 1 $20,000 3% 40 days (2) June 30 9,000 3% 180 days (3) March 30 12,000 5% 45 days (4) March 1 10,000 5% 60 days (5) January 15 8,000 4% 60 days

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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	Date of Note	Face Amount	Interest Rate	Term of Note	Due Date	Interest
(1)	Jun 1	$20,000	3%	40 days
(2)	June 30	9,000	3%	180 days
(3)	March 30	12,000	5%	45 days
(4)	March 1	10,000	5%	60 days
(5)	January 15	8,000	4%	60 days