Question
4. On October 30, Seba Salon, Inc. issued a 90-day note with a face amount of $60,000 to Reyes Products, Inc. for merchandise inventory. Assuming
4. On October 30, Seba Salon, Inc. issued a 90-day note with a face amount of $60,000 to Reyes Products, Inc. for merchandise inventory. Assuming a 360-day year, determine the proceeds of the note assuming the note is discounted at 8%.
$55,200
$64,800
$58,800
$61,200
How?
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Government Auditing Standards 2011 Revision
Authors: U. S. Government Accountability Office, Comptroller General Of The United States
1st Edition
1482311372, 978-1482311372
