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Proceeds from Notes Payable On January 26, Vibrant Co. borrowed cash from Conrad Bank by issuing a 60-day note with a face amount of $85,200.
Proceeds from Notes Payable On January 26, Vibrant Co. borrowed cash from Conrad Bank by issuing a 60-day note with a face amount of $85,200. Assume a 360-day year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 7%. $fill in the blank 1 b. Determine the proceeds of the note, assuming the note is discounted at 7%. $fill in the blank 2
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Fundamentals of Cost Accounting
Authors: William Lanen, Shannon Anderson, Michael Maher
3rd Edition
978-0077398194
