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Koala Co. issued a $10,000, 90-day note to Kansas City Bank. The discount rate is 5%. The cash proceeds to Koala Co. are: $9,500 $10,000
Koala Co. issued a $10,000, 90-day note to Kansas City Bank. The discount rate is 5%. The cash proceeds to Koala Co. are:
$9,500
$10,000
$10,125
$9,875
On January 1, Casio Company issues a $20,000, 6% installment note to First National Bank. The note payable requires Casio Company to repay the principal and interest in equal payments of $4,747 beginning December 31 for each of the next five years. What amount is applied to the note (principal) on the first payment? (Round to the nearest dollar if necessary.)
$3,547
$4,747
$4,462
$1,200
(23/24/25)
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