Question: need help please Descriptors are provided below for six situations involving notes receivable being discounted at a bank. In each case, the maturity date of
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.) Noto Proceeds Received 1 2 3 Note Face Value Date of Noto $ 60,000 3/31/2021 60,000 3/31/2021 60,000 3/31/2021 120,000 6/30/2021 120,000 6/30/2021 120,000 6/30/2021 Interest Date Rate Discounted 10% 6/30/2021 10% 9/30/2021 10% 9/30/2021 8% 10/31/2021 8% 10/31/2021 8% 11/30/2021 Discount Rate 12% 12% 16% 12% 16% 12% 4 6
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