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Problem 2 (7 points) The following are account balances from the trial balance of the Village Inn at October 31, 20X1 (the end of the
Problem 2 (7 points)
The following are account balances from the trial balance of the Village Inn at October 31, 20X1 (the end of the Inns fiscal year), arranged in alphabetical order.
| Customer | Date of Note | Days of note | Date of Maturity | Principle | Rate | Interest |
1. 2. 3. 4. | Tinos Supplies Marchus Ins. Beams Lighting Bensons | Jan. 8 March 12 May 22 October 6 | 60 days 2 months 90 days 180days
| ? ? ? ? | $2,000 10,000 3,000 5,000 | 12% 10% 12% 10% | ? ? ? ? |
Required: Determine the interest at maturity for the above notes and Dates of Maturity
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