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Tania Company accepted from a customer a P4,000,000, 90-day, 12% noted August 31, 2018. On September 30, 2018, Tania Company discounted without recourse the note
Tania Company accepted from a customer a P4,000,000, 90-day, 12% noted August 31, 2018. On September 30, 2018, Tania Company discounted without recourse the note at 15%. However, the proceeds were not received until October 1, 2018. For the year ended September 30, 2018.
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The loss on note receivable discounting can be computed as follows Discount ...
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Financial Accounting in an Economic Context
Authors: Jamie Pratt
10th edition
978-1-119-3061, 1119306167, 978-1119444367
