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1-2.i am still kind of confused with this topic. what are the answers and how do i solve for the following? thank you! On January

1-2.i am still kind of confused with this topic. what are the answers and how do i solve for the following? thank you!

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On January 2, 2021, Toto Company received a promissory note from a customer, 10% P250300, due in 180 days. Toto Company discounted the note with a bank on a without recourse basis on February 16, 2021, at 12%. 1. How much is the proceeds? 2. How much is the loss on discounting

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