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, 2011, and the principal and interest are due at maturity. For each, determine the proceeds received from the bank on discounting thenote.

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NotelNote Face ValueDate of Notelnterest Rate Date Discounted Discount Rate 3/31/11 3/31/11 3/31/11 6/30/11 6/30/11 6/30/11 6/30/11 9/30/11 9/30/11 10/31/11 10/31/11 11/30/11 890 $50,000 50,000 50,000 80,000 80,000 80,000 10% 10 12 10 12