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Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 14ISBN: 978-1305653535Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 14ISBN: 978-1305653535 Exercise 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%.
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%.
Explanation
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a.45-day notes Payable issued by B Compa...
Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
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