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On January 26, Bella Co. borrowed cash from Conrad Bank by issuing a 90-day note with a face amount of $39,600. Assume a 360-day

On January 26, Bella Co. borrowed cash from Conrad Bank by issuing a 90-day note with a face amount of $39,600. Assume a 360-day year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 5%.

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