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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
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.) Answer is not complete. Note Note Face Value Date of Interest Note Rate Date: Discounted Discount Proceeds Rate Received 1 $ 60,000 3/31/2021 6% 6/30/2021 8% $ 60,192 2 60,000 3/31/2021 6% 9/30/2021 8% 61,446 3 60,000 3/31/2021 6% 9/30/2021 12% 60,819 45 95,000 6/30/2021 4% 10/31/2021 8% 95,000 6/30/2021 4% 10/31/2021 12% 6 95,000 6/30/2021 4% 11/30/2021 8%
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