On Jan , 22 Arab bank/ main branch purchased bank's checks drawn on Florida bank in USA at amount of $ 12000 . and paid the check value in Jordanian dinar in cash to beneficiary Salem after deduct 2 % as a commission . the exchange rate for each 1 $ =( .700 .720 .740 )

1- the amount paid to the beneficiary Salem is: ABCD

A- 8400

B- 8702.4

C- 8232

D- 8568

2- the journal entry to close the "purchased checks" account contains in Debit side the following account: ABCD

A- Florida bank at amount of JD 8400

B- Florida bank at amount of JD 8880

C- purchased checks amount of JD 8400

D- purchased checks amount of JD 8880

3. Interest rate on notes rediscounted ABCD Interest rate on notes discounted

A. less than

B. more than

C. Equals

D. may be more or less than