Computing the Proceeds from the Sale of Notes Receivable Below are several customer notes receivable...
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Accounting
Computing the Proceeds from the Sale of Notes Receivable
Below are several customer notes receivable that were sold without recourse.
An $7,000, 60-day, non-interest-bearing note sold after 15 days at 12%.
A $10,000, 12%, 60-day note sold after 30 days at 14%.
A $4,000, 10%, 90-day note sold after 30 days at 12%.
A $18,000, 12%, 120-day note sold after 45 days at 15%
Required:
Determine the proceeds from each of the preceding sales of customer notes receivable. (Assume a 360-day year.) Do not round intermediate calculations. When required, round your final answers to the nearest dollar. If an amount is zero, enter "0".
Note 1
Note 2
Note 3
Note 4
Face Value of Note
$fill in the blank 1
$fill in the blank 2
$fill in the blank 3
$fill in the blank 4
Interest to Maturity
fill in the blank 5
fill in the blank 6
fill in the blank 7
fill in the blank 8
Maturity Value
$fill in the blank 9
$fill in the blank 10
$fill in the blank 11
$fill in the blank 12
Discount
fill in the blank 13
fill in the blank 14
fill in the blank 15
fill in the blank 16
Proceeds
$fill in the blank 17
$fill in the blank 18
$fill in the blank 19
$fill in the blank 20
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