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On September 1, 2020, Thunder Company received an P80,000, 12%, 120-day note from a credit customer wishing to extend its repayment period. On October 2,

On September 1, 2020, Thunder Company received an P80,000, 12%, 120-day note from a credit customer wishing to extend its repayment period. On October 2, 2020, thirty days after the note was received, Thunder discounted the note at the bank at 14%. Using 360 days in a year, how much cash did Thunder Company receive from the bank?*

A) 80,800

B) 80,288

C) 79,317

D) 80,749

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