Question: Descriptors are provided below for six situations involving notes receivable being discounted at a bank. In each case, the maturity date of the note

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, 2021, and the principal and interest are due at maturity. For each, determine the proceeds received from the bank on discounting the note. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar.) Note Note Face Value Interest Date of Note Rate Date Discounted Discount Proceeds Rate Received 1 $ 60,000 3/31/2021 8% 6/30/2021 10% $ 60,571 2 60,000 3/31/2021 8% 9/30/2021 10% 62,049 3 60,000 3/31/2021 8% 9/30/2021 12% 61,748 4 180,000 6/30/2021 6% 10/31/2021 10% 182,361 LO 180,000 6/30/2021 6% 10/31/2021 12% 181,765 180,000 6/30/2021 6% 11/30/2021 10% 183,868

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