Descriptors are provided below for six situations involving notes receivable being discounted at a bank. In...

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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 Intermedlate calculations. Round your final answers to the nearest whole dollar.) Note Face Interest Date Discounted Discount Proceeds Note Date of Note Value Rate Rate Received 40,000 3/31/2021 6% 6/30/2021 8% 2 40,000 3/31/2021 6% 9/30/2021 8% 40,000 3/31/2021 6% 9/30/2021 10% 4 110,000 6/30/2021 4% 10/31/2021 8% 110,000 6/30/2021 4% 10/31/2021 10% 110,000 6/30/2021 4% 11/30/2021 8% 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 Intermedlate calculations. Round your final answers to the nearest whole dollar.) Note Face Interest Date Discounted Discount Proceeds Note Date of Note Value Rate Rate Received 40,000 3/31/2021 6% 6/30/2021 8% 2 40,000 3/31/2021 6% 9/30/2021 8% 40,000 3/31/2021 6% 9/30/2021 10% 4 110,000 6/30/2021 4% 10/31/2021 8% 110,000 6/30/2021 4% 10/31/2021 10% 110,000 6/30/2021 4% 11/30/2021 8%

Answer rating: 100% (QA)

Note1 a Maturity value 40000 40000 6 912 40000 1800 41800 b Discount value 41800 8 612 1672 Pro... View the full answer