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Fox-Pro Spring Bank City Bank 1. Maturity dates Date of the note May 23 July 15 Dec. 6 Term of the note (in days) 60

Fox-Pro

Spring Bank

City Bank

1.

Maturity dates

Date of the note

May 23

July 15

Dec. 6

Term of the note (in days)

60

120

45

Maturity date

2.

Interest due at maturity

Principal of the note

$4,600

$12,000

$8,000

Annual interest rate

15%

10%

9%

Fraction of year

Interest expense

3.

Accrued interest on City Bank note at the end of 2016

Total interest for note

Fraction of term in 2016

Accrued interest expense

4. Interest in 2017

Total interest for note

Fraction of term in 2017

Interest expense in 2017

Problem 9-1B (Concluded)

5.

Date

Account Titles

Debit

Credit

So the first part is the question that is web captured and the second part is the template they give us to fill out! Thanks for the help!

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