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Example: ($7,500225=$7,275) Step 3: Record the liability resulting from the note and the cash received Question: Would you rather borrow $10,000 by issuing a 90
Example: ($7,500225=$7,275) Step 3: Record the liability resulting from the note and the cash received Question: Would you rather borrow $10,000 by issuing a 90 day 15% note or a 90 day non-interest bearing note discounted at 15%
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