Apr. 20 Purchased $49,250 of merchandise on credit from Locust, terms are 1/10, n/30. Montag uses the perpetual inventory system. May 24 Replaced the April 20 account payable to Locust with a 60-day, $37,000 note bearing 8% annual interest along with paying $12,250 in cash. Requirement Determine the interest due at maturity for each of the three notes. (Assume a 360-day year. Round your answers to the nearest dollar amount. Omit the “$” sign in your response.)
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