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1 Hep Seve&E On August 1, Abbitt Inc needed csh to pay some bills. Kim Abbitt decided to dicount a maturty date of the note

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1 Hep Seve&E On August 1, Abbitt Inc needed csh to pay some bills. Kim Abbitt decided to dicount a maturty date of the note s Augus 30. On August 1, ADbitt decounts the note at Frst National Bank The bank's decount rate is t2 pescent The proceeds received from the bank total 60 dey nonnterest beaing nose receivable for $300000 that the business had seceived from Peter Houghton on July 1 The Muigle Choce $1000 99000 $101000

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