E6-2 E6_7 _ Estimating doubtful accounts
Question # 00015211
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Updated on: 05/13/2014 09:37 AM Due on: 12/31/2015
E6-2 E6_7
Determine due date and interest on notes
Obj|1
? Feb. 20, $450
Determine the due date and the amount of interest due at maturity on the following notes:
Date of Note | Face Amount | Interest Rate | Term of Note | |
|---|---|---|---|---|
a. | January 6 | $40,000 | 9% | 45 days |
b. | March 23 | 9,000 | 10 | 60 days |
c. | May 30 | 12,000 | 12 | 90 days |
d. | August 30 | 18,000 | 10 | 120 days |
e. | October 1 | 10,500 |
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Solution: E6-2 E6_7 _ Estimating doubtful accounts