Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac

تمرين 14

Proceeds from notes payable
On January 26, Nyree Co. borrowed cash from Conrad Bank by issuing a 45-day note with a face amount of $150,000.
A. Determine the proceeds of the note, assuming the note carries an interest rate of 10%.
B. Determine the proceeds of the note, assuming the note is discounted at 10%.