Problem 7-11 (Algo) Discounting a note receivable (L07-7) 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) Note Proceeds Received 1 Note Face Date of Note Value $ 60,000 3/31/2021 60,000 3/31/2021 60,000 3/31/2021 92,000 6/30/2021 92,000 6/30/2021 92,000 6/30/2021 2 3 Interest Date Rate Discounted 12% 6/30/2021 12% 9/30/2021 12% 9/30/2021 10% 10/31/2021 10% 10/31/2021 1096 11/30/2021 Discount Rate 14% 14% 16% 4 14% 16% 5 6 14%