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Notes Receivable

Tallent Company received a $$30,000,6-$month, $10\%$ interest$-$bearing note from a customer. After holding the note for two months, Tallent was in need of cash and sold the note at the United National Bank at a $12\%$ discount rate.

The amount of cash received by Tallent from the bank was:

a$.$ $$30,870$

b$.$ $$30,300$

c$.$ $$31,260$

d$.$ $$30,240$

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