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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
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. (Do not round Intermediate calculations. Round your final answers to the nearest whole dollar.) Note Date of Note Note Face Value $ 70.000 Interest Rate Date Discounted Discount Rate Proceeds Received 1 373112021 896 6/30/2021 10% s 66.710 3312021 9/30/2021 10% 3 373112021 9/30/2021 12% 4 96.000 5% 10/31/2021 5 10% 12% 96.000 613012021 5% 10/31/2021 11/30/2021 6 96.000 6/30/2021 5% 10%
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