Presented below are data on three promissory notes. Determine the missing amounts. (Use 360 days for calculation.) Date of Note Terms Maturity Date Principal Annual Interest Rate Total Interest a) April 1 60 May 31 $510,000 14 % $ 14 11751.60 days 30 기 ɔ) July 2 August 1 81,600 48.03 % $884 days March 6 : September 7 166,000 15 % $ 124.50 7 months

Presented below are data on three promissory notes. Determine the missing amounts. (Use 360 days for calculation.) Date of Note Terms Maturity Date Principal Annual Interest Rate Total Interest a) April 1 60 May 31 $510,000 14 % $ 14 11751.60 days 30 기 ɔ) July 2 August 1 81,600 48.03 % $884 days March 6 : September 7 166,000 15 % $ 124.50 7 months

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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