Proceeds from Notes Payable On January 26, Elegant Co. borrowed cash from Conrad Bank by issuing a 30-day note with a face amount of $76,800. Assume a 360-day year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 9%. b. Determine the proceeds of the note, assuming the note is discounted at 9%. Employee Net Pay Steven Washington's weekly gross earnings for the week ending March 9 were $2,320, and her federal income tax withholding was $417.60. Assuming the social security tax rate is 6% and Medicare tax is 1.5% of all earnings, what is Washington's net pay? If required, round your answer to two decimal places. Current Liabilities Bon Nebo Co. sold 17,000 annual subscriptions of Bjorn for $62 during December 20Y5. These new subscribers will receive monthly issues, beginning in January 2016. In addition, the business had taxable income of $664,000 during the first calendar quarter of 2016. The 'federal tax rate is 38%. A quarterly tax payment will be made on April 12, 2016. Prepare the "Current liabilities" section of the balance sheet for Bon Nebo Co. on March 31, 2016. Bon Nebo Co. Current Liabilities Section of Balance Sheet March 31, 2016 Current liabilities: Advances on magazine subscriptions $ Federal income taxes payable Total current liabilities