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* Problem 9-10A A company received the following notes during 2017. The notes were discounted on the dates and at the rates indicated. Note Term
* Problem 9-10A A company received the following notes during 2017. The notes were discounted on the dates and at the rates indicated. Note Term Principal Amount $20,000 9,000 12,000 Interest Rate 8% 10 (a) (b) (c) Date Jun. 15 Aug. 1 Nov. 21 Discount Rate 12% Date Discounted Jul. 15 Aug. 27 Dec. 4 60 days 90 days 90 days 12 15 15 Required Identify each note by letter, compute interest using a 365-day year for all notes, round all interest amounts to the nearest cent, and present entries in general journal form. Explanations are not required. 1. Determine the due date and maturity value of each note. 2. Determine the discount and proceeds from the sale (discounting) of each note. 3. Journalize the discounting of notes (a) and (b)
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