Question
*QS 8-16 Discounting a note receivable LO6 Tallcrest discounted a $50,000, 45-day, 5% note receivable on August 10 at the local bank, which applies
*QS 8-16 Discounting a note receivable LO6 Tallcrest discounted a $50,000, 45-day, 5% note receivable on August 10 at the local bank, which applies an 8% discount rate. Tallcrest had held the note for 25 days before discounting it. Record the entry on August 10.
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Principles Of Cost Accounting
Authors: Edward J. Vanderbeck
15th Edition
978-0840037039, 0840037031
