Computing Accrued Interest Compute the interest accrued on each of the following notes receivable held by...
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Computing Accrued Interest Compute the interest accrued on each of the following notes receivable held by Northland, Inc., on December 31: (Use 360 days for interest calculation. Round to the nearest dollar.) Maker Date of Note Interest Principal Rate Term Maple November 21 $20,000 10% 120 days Wyman December 13 16,000 9% 90 days Nahn December 19 23,000 8% 60 days Maple: $ 5.5 Wyman: 0 Nahn: 0 Computing Accrued Interest Compute the interest accrued on each of the following notes receivable held by Northland, Inc., on December 31: (Use 360 days for interest calculation. Round to the nearest dollar.) Maker Date of Note Interest Principal Rate Term Maple November 21 $20,000 10% 120 days Wyman December 13 16,000 9% 90 days Nahn December 19 23,000 8% 60 days Maple: $ 5.5 Wyman: 0 Nahn: 0
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