Question: Martin Manufacturing held three interest-bearing notes during 2005 and 2006. For each note determine the following: a. Maturity date b. Maturity value c. Interest revenue

Martin Manufacturing held three interest-bearing notes during 2005 and 2006. For each note determine the following:
a. Maturity date
b. Maturity value
c. Interest revenue to be reported on December 31, 2005

Note 1-issued sept 25, 2005, $15,000, 10%, 60 days
Note 2-issued nov 20, 2005, $25,000, 12%, 90 days
Note 3-issued dec 30, 2005, $14,000, 9%, 30 days

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To solve this problem lets calculate each part for each of the notes separately Note 1 a Maturity Date Issued September 25 2005 Term 60 days To find t... View full answer

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