Question
Ron Prentice bought goods from Shelly Katz. On Feb. 20, Shelly gave Ron a time extension on his bill by accepting a $2,736, 10%, 175-day
Ron Prentice bought goods from Shelly Katz. On Feb. 20, Shelly gave Ron a time extension on his bill by accepting a $2,736, 10%, 175-day note. On May 20, Shelly discounted the note at Roseville Bank at 8%. (UseDays in a year table.)
What proceeds does Shelly Katz receive?
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Fundamentals Of Cost Accounting
Authors: William Lanen, Shannon Anderson
2nd Edition
0071332618, 978-0071332613
