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On September 1, Nova Salon Company issued a 90-day note with a face amount of $88,800 to Osborne Hair Products Company for merchandise inventory. Assume

On September 1, Nova Salon Company issued a 90-day note with a face amount of $88,800 to Osborne Hair Products Company for merchandise inventory. Assume a 360-day year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 10%. $ b. Determine the proceeds of the note, assuming the note is discounted at 10%. $

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