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34. The Mariah Wimberly company accepted a trade note from AB Enterprises, face value $85,000, 15 percent interest-bearing, dated August 18, maturing in 200 days.
34. The Mariah Wimberly company accepted a trade note from AB Enterprises, face value $85,000, 15 percent interest-bearing, dated August 18, maturing in 200 days. Assume 360 days in a year. Required: On September 30, 2021, the Wimberly Company sold the note with recourse to XY Finance Company at a 18 percent annual rate. Compute the following: Show your work; otherwise, credit will not be given. There are no exceptions, please! 8 points each = 40 points (a) The maturity date on the Note: (b) The Maturity value: $ the remaining life (in days) of the note from the date it was sold to the Finance Company. (d) The Discount amount: $ (e) The AB Enterprises' proceeds from the note $ Computations
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