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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, 2024, and the principal and interest are due at maturity. For each situation, determine the proceeds received from the bank on discounting the note.

Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar

Note Note Face Value Date of Note Interest Rate Date Discounted Discount Rate Proceeds Received
1 $60,000 3/31/2024 12% 6/30/2024 14% $116,622
2 60,000 3/31/2024 12% 9/30/2024 14%
3 60,000 3/31/2024 12% 9/30/2024 16%
4 92,000 6/30/2024 10% 10/31/2024 14%
5 92,000 6/30/2024 10% 10/31/2024 16%
6 92,000 6/30/2024 10% 11/30/2024 14%

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