Computing the Proceeds from the Sale of Notes Receivable

Below are several customer notes receivable that were sold without recourse.

1. An $7,000, 60-day, non-interest-bearing note sold after 15 days at 12%.
2. A $10,000, 12%, 60-day note sold after 30 days at 14%.
3. A $4,000, 10%, 90-day note sold after 30 days at 12%.
4. A $18,000, 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	$fill in the blank 1	$fill in the blank 2	$fill in the blank 3	$fill in the blank 4
Interest to Maturity	fill in the blank 5	fill in the blank 6	fill in the blank 7	fill in the blank 8
Maturity Value	$fill in the blank 9	$fill in the blank 10	$fill in the blank 11	$fill in the blank 12
Discount	fill in the blank 13	fill in the blank 14	fill in the blank 15	fill in the blank 16
Proceeds	$fill in the blank 17	$fill in the blank 18	$fill in the blank 19	$fill in the blank 20