Proceeds from notes payable OBJ. 1 On January 26, Nyree Co. borrowed cash from Conrad Bank by

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Proceeds from notes payable OBJ. 1 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%.

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Financial And Managerial Accounting

ISBN: 9781305267831,9781305267848

13th Edition

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

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