Response to the following problem:
Computing the Proceeds from Discounted Notes Below are several customer notes.
1. An $8,000, 60-day, non-interest-bearing note discounted after 15 days at 12%.
2. A $9,000, 12%, 60-day note discounted after 30 days at 14%.
3. A $6,000, 10%, 90-day note discounted after 30 days at 12%.
4. A $10,000, 12%, 120-day note discounted after 45 days at 15%.
Required:
Determine the proceeds from each of the preceding discounted customer notes.