(Solution) - A company received the following notes during 2012 -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

Paper Format: APA

Pages: 5 Words: 1375

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A company received the following notes during 2012. The notes were discounted on the dates and at the rates indicated:

Requirements
Identify each note by number, compute interest using a 360-day year, and round all interest amounts to the nearest dollar. Explanations are not required.
1. Determine the due date and maturity value of each note.
2. Determine the discount and proceeds from the sale (discounting) of each note.
3. Journalize the discounting of notes (1) and(2).