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On January 2 6 , Elegant Co . borrowed cash from Conrad Bank by issuing a 1 2 0 - day note with a face
On January Elegant Co borrowed cash from Conrad Bank by issuing a day note with a face amount of $ Assume a day year.
a Determine the proceeds of the note, assuming the note carries an interest rate of
b Determine the proceeds of the note, assuming the note is discounted at
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Cost Accounting Concepts And Applications For Managerial Decision Making
Authors: Ralph S. Polimeni, James A. Cashin, Frank J. Fabozzi, Arthur H. Adelberg
2nd Edition
0070103100, 978-0070103108
