On February 1, Electronic Warehouse Co. issued a 30-day note with a face amount of $50,000 to

Question:

On February 1, Electronic Warehouse Co. issued a 30-day note with a face amount of $50,000 to Yamura Products Co. for cash.
a. Determine the proceeds of the note, assuming the note carries an interest rate of 6%.
b. Determine the proceeds of the note, assuming the note is discounted at 6%.