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On August 1 Batson company issued a 69 day note with a face amount of 65,400 to Jorgensen company for merchandise inventory. Assume a 360-day
On August 1 Batson company issued a 69 day note with a face amount of 65,400 to Jorgensen company for merchandise inventory. Assume a 360-day year is used for interest calculation. A determine the proceeds of the notes assuming the notes carries an interest of 8%
B. Determine the proceeds of the notes assuming the note is discounted at 8%
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Financial Accounting The Impact On Decision Makers
Authors: Gary A. Porter, Curtis L. Norton
2nd Edition
0030270995, 978-0030270994
