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Stevens Company borrowed money from Goliath National Bank (GNB) by issuing a 4- month note. The note has a face value of $670,000. GNP requested

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Stevens Company borrowed money from Goliath National Bank (GNB) by issuing a 4- month note. The note has a face value of $670,000. GNP requested that Stevens Company assign $800,000 of accounts receivable as collateral. GNB charged a 2% commission on the amount of the receivable, and the interest rate of the loan was 10%. How much cash did Stevens Co. receive from GNB at the time of the transaction? $574,000 $603,000 $589,600 O $654,000

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