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BOOK Show Me How Proceeds from Notes Payable On January 26, Nova Co. borrowed cash from Conrad Bank by issuing a 120-day note with
BOOK Show Me How Proceeds from Notes Payable On January 26, Nova Co. borrowed cash from Conrad Bank by issuing a 120-day note with a face amount of $73,200. Assume a 360-day year a. Determine the proceeds of the note, assuming the note carries an interest rate of 7%. b. Determine the proceeds of the note, assuming the note is discounted at 7%.
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Cost Accounting Traditions and Innovations
Authors: Barfield Jesse, Raiborn Cecily, Kinney Michael
4th edition
324026455, 978-0324026450
