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Computing the Proceeds from the Sale of Notes Receivable Below are several customer notes receivable that were sold without recourse. 1, An $8,000, 60-day, non-interest-bearing
Computing the Proceeds from the Sale of Notes Receivable Below are several customer notes receivable that were sold without recourse. 1, An $8,000, 60-day, non-interest-bearing note sold after 15 days at 12%. 2. A $9,000, 1296, 60-day note sold after 30 days at 14%. 3, A $6,000, 10%, 90-day note sold after 30 days at 12%. 4, A $10,000, 12%, 120-day note sold after 45 days at 15%. Required: Determine the proceeds from each of the preceding sales of customer notes receivable. (Assume a 360-day year.) Do not round intermediate calculations. When required, round your final answers to the nearest dollar. If an amount is zero, enter "0" Note 1 Note 2 Note 3 Note 4 Face value of note si Interest to maturity Maturity value Discount Proceeds 8,000|v 9,0001 v sl 6,0001 v sl 10,0001 14 X 14 X 14 X 8,000 120 9,000X 9,072.90
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