Chapter 10 - Concept Clip Questions eBook Show Me How Calculator 1. BE.10-01.ALGO Proceeds from Notes Payable 2. BE.10-02 ALGO On September 1, Elegant Salon Company issued a 60-day note with a face amount of $69,600 to Hotlocks Hair Products Company for merchandise inventory. Assume a 360-day year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 8%. b. Determine the proceeds of the note, assuming the note is discounted at 8%. Chapter 10 - Concept Clip Questions eBook Show Me How Calculator 1. BE.10-01.ALGO Employee Net Pay 2. BE.10-02.ALGO Steven Washington's weekly gross earnings for the week ending December 18 were $2,690, and his federal income tax withholding was $538. Assuming the social security rate is 6% and Medicare is 1.5% of all earnings, what is Washington's net pay? If required, round your answer to two decimal places