Question
Required information: (The following information applies to the questions displayed below.) On August 1, 2022, Colombo Companys treasurer signed a note promising to pay $121,200
Required information:
(The following information applies to the questions displayed below.)
On August 1, 2022, Colombo Companys treasurer signed a note promising to pay $121,200 on December 31, 2022. The proceeds of the note were $116,100.
A. Calculate the discount rate used by the lender. (Note: enter your answer as a percentage rounded to 1 decimal place).
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Intermediate Accounting
Authors: kieso, weygandt and warfield.
14th Edition
9780470587232, 470587288, 470587237, 978-0470587287
