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BSA Company received a 10%, P750,000 promissory note from Customer A. From the date of the note to discount date, the carrying amount is P761,458.33.
BSA Company received a 10%, P750,000 promissory note from Customer A. From the date of the note to discount date, the carrying amount is P761,458.33. From the discount date to maturity date, there are are 85 days and the net proceeds is P757,090.28 after discounting at 12%. What is the term (in days) of the note? Use 360 days
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