Descriptors are provided below for six situations involving notes receivable being discounted at a bank. In each case, the maturity date of the note is December 31, 2021, and the principal and interest are due at maturity. For each, determine the proceeds received from the bank on discounting the note.

Note Note Face Value Date of Note Interest Rate Date Discounted Discount Rate Proceeds Received

1 $60,000 3/31/2021 8% 6/30/2021 10% ?

2 $60,000 3/31/2021 8% 9/30/2021 10% ?

3 $60,000 3/31/2021 8% 9/30/2021 12% ?

4 $120,000 6/30/2021 5% 10/31/2021 10% ?

5 $120,000 6/30/2021 5% 10/31/2021 12% ?

6 $120,000 6/30/2021 5% 11/30/2021 10% ?