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Determine Due Date and Interest on Notes Determine the due date and the amount of...

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Accounting

Determine Due Date and Interest on Notes

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
a. January 10* $40,000 5% 90 days
b. March 19 18,000 8 180 days
c. June 5 90,000 7 30 days
d. September 8 36,000 3 90 days
e. November 20 27,000 4 60 days

*Assume that February has 28 days.

Assume 360-days in a year when computing the interest.

Note Due Date Interest
a.

Jan. 19Apr. 10Sept. 15July 5Dec. 7Apr. 10

 $fill in the blank 2
b.

Jan. 19Apr. 10Sept. 15July 5Dec. 7Sept. 15

 fill in the blank 4
c.

Jan. 19Apr. 10Sept. 15July 5Dec. 7July 5

 fill in the blank 6
d.

Jan. 19Apr. 10Sept. 15July 5Dec. 7Dec. 7

 fill in the blank 8
e.

Jan. 19Apr. 10Sept. 15July 5Dec. 7Jan. 19

 fill in the blank 10

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