Accounting for notes receivable (Learning Objective 6) 10–15 min.

Compute the maturity value as indicated for each of the following notes receivable.

1. A $7,000, 5%, 6-month note dated June 22.

Maturity value $____________.

2. A $23,000, 6%, 60-day note dated February 15.

Maturity value $____________.

3. A $15,000, 4%, 30-day note dated October 17.

Maturity value $____________.

4. A $9,000, 7%, 6-month note dated December 15.

Maturity value $____________.

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