A company received the following notes during 19X3. Notes (a), (b), and

(c) were discounted on the dates and at the rates indicated.

\section*{Required}
Using ratio data to evaluate a company's position (Obj. 7)
As necessary in Requirements 1 through 5, identify each note by letter, compute interest using a 360-day year for those notes with terms specified in days or years, round all interest amounts to the nearest dollar, and present entries in general journal form. Explanations are not required.
1. Determine the due date and maturity value of each note.
2. For each discounted note, determine the discount and proceeds from sale of the note.
3. Journalize the discounting of notes

(a) and (b).
4. Journalize a single adjusting entry at December \(31,19 \mathrm{X} 3\), to record accrued interest revenue on notes (d), (e), and (f).
5. Journalize the collection of principal and interest on note (e).

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Principal Interest Date Discount Note Date Amount Rate Term Discounted Rate (a) July 12 $12,000 10% 3 months Aug. 12 15% (b) Sep. 4 8,000 11% 90 days Sep. 30 13% (c) Oct. 21 5,000 15% 60 days Nov. 3. 18% (d) Nov. 30 12,000 12% 6 months (e) Dec. 7 6,000 10% 30 days (f) Dec. 23 15,000 9% 1 year