Below are several customer notes receivable that were sold without recourse.

1. An $8,000, 60-day, non-interest-bearing note sold after 15 days at 12%

2. A $9,000, 12%, 60-day note sold after 30 days at 14%

3. A $6,000, 10%, 90-day note sold after 30 days at 12%

4. A $10,000, 12%, 120-day note sold after 45 days at 15%

Required:

Determine the proceeds from each of the preceding sales of customer notes receivable.

Answer rating: 100% (QA)

Notes receivable Note Receivable or Promissory Note is referred to a written ... View the full answer