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Compute the interest accrued on each of the following notes receivable held by Southland, Inc., on December 31: (Use 360 days for interest calculation. Round
Compute the interest accrued on each of the following notes receivable held by Southland, Inc., on December 31: (Use 360 days for interest calculation. Round to the nearest dollar.) Please show how you did the work so I learn how to do this.
Maker | Date of Note | Principal | Interest Rate | Term |
---|---|---|---|---|
Maple | November 21 | $20,000 | 10% | 120 days |
Wyman | December 13 | 14,000 | 9% | 90 days |
Nahn | December 24 | 21,000 | 6% | 60 days |
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