Determine due date and interest on notes OBJ. 6 Determine the due date and the amount of
Question:
Determine due date and interest on notes OBJ. 6 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
a. January 3* $80,000 6% 120 days
b. February 20* 27,000 4 30 days
c. May 24 62,500 8 45 days
d. August 30 30,000 5 90 days
e. October 4 40,000 7 90 days
* February 2016 has 29 days.
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Related Book For 
Financial And Managerial Accounting
ISBN: 9781305267831,9781305267848
13th Edition
Authors: Carl S. Warren , James M. Reeve , Jonathan Duchac
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