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On September 15, the company received a P180,000 6% 180-day note. This was discounted to the bank on November 14 at a discount rate of

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On September 15, the company received a P180,000 6% 180-day note. This was discounted to the bank on November 14 at a discount rate of 8%. Determine the cash proceeds when the note receivable was discounted

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