Question
Rex Corporation accepted a $15,000, 6%, 120-day note dated August 8 from Regis Company in settlement of a past bill. On October 11, Rex discounted
Rex Corporation accepted a $15,000, 6%, 120-day note dated August 8 from Regis Company in settlement of a past bill. On October 11, Rex discounted the note at Park Bank at 7%. (Use Days in a year table.)
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Financial Accounting
Authors: John Hoggett, Lew Edwards, John Medlin, Keryn Chalmers, Jodie Maxfield, Andreas Hellmann, Claire Beattie
9th Edition
1118608208, 978-1118608203
