On August 1, Batson Company issued a 60-day note with a face amount of $73,800 to Jergens Company for merchandise inventory. (Assume a 360-day year is used for interest computations.) a. Determine the proceeds of the note assuming the note carries an interest rate of 8%. b. Determine the proceeds of the note assuming the note is discounted at 8%.

On August 1, Batson Company issued a 60 -day note with a face amount of $73,800 to Jergens Company for merchandise inventory. (Assume a 360 -day year is used for interest computations.) a. Determine the proceeds of the note assuming the note carries an interest rate of 8%. b. Determine the proceeds of the note assuming the note is discounted at 8%