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8 On October 29, 2019, the Berkeley Company accepted a 60-day, 9 percent note from Devon...


8 On October 29, 2019, the Berkeley Company accepted a 60-day, 9 percent note from Devon Reed in settlement of his past- due
8 On October 29, 2019, the Berkeley Company accepted a 60-day, 9 percent note from Devon Reed in settlement of his past- due account for $22,000. On November 28, Berkeley Company discounted the note at the Security Bank. The bank charged a discount rate of 12 percent. 1. What is the maturity date of the note? 2. What is the maturity value of the note? (Assume 360 days in a year. Do not round Intermediate calculations.) 3. How many days are in the discount period? 4. What is the amount of the discount? (Assume 360 days in a year. Do not round Intermediate calculations, Round your answer to 2 decimal places.) 5. What is the amount of the proceeds? (Assume 360 days in a year. Do not round Intermediate calculations. Round your answer to 2 decimal places.) Skipped 1. The maturity date of the note 2. Maturity value 3. Discount period 4. Discount 5. Proceeds days
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8 1 The maturity date of the note 2 Maturity value 3 Discount period 4 Discount 5 Proceeds December 28, 2019 October 29, 2019

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