On February 1, Electronic Warehouse Co. issued a 45-day note with a face amount of $80,000 to

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On February 1, Electronic Warehouse Co. issued a 45-day note with a face amount of $80,000 to Yamura Products Co. for cash.
(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%.

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Accounting

ISBN: 978-0324662962

23rd Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

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