Saint Mary's Corporation issued a 150-day non-interest bearing note for $25 300 to Carlos Services on June 15. On August 21, the note was sold to Bearing Collections at a price reflecting a discount rate of 12.5%. What were the proceeds of the note?

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The Answer of Saint Mary's Corporation issued a 150-day non-interest bearing note for $25 300 to Carlos Services on June 15. On August 21, the note was sold to Bearing Collections at a price reflecting a discount rate of 12.5%. What were the proceeds of the note?

Saint Mary's Corporation Issued a 150-Day Non-Interest Bearing Note for $25