Q1

Q2

On January 26, Nyree Co. borrowed cash from Conrad Bank by issuing a 45 -day note with a face amount of $300,000. Assume 360 days in a year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 6%. x b. Determine the proceeds of the note, assuming the note is discounted at 6%. Feedosck T Check My Work The proceeds equal the cash initially received. Proceeds represents how much in value the borrower is walking away with in cash or merchandise. The payroll register of Heritage Co. indicates $4,800 of social security withheld and $1,200 of Medicare tax withheld on total salaries of $80,000 for the period. Federal withholding for the period totaled $17,540. Retirement savings withheld from employee paychecks were $3,200 for the period. Journalize the entry to record the period's payroll. If an amount box does not require an entry, leave it blank