On October 12, Belleville Co. borrowed cash from Texas Bank by issuing a 30-day note with a

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On October 12, Belleville Co. borrowed cash from Texas Bank by issuing a 30-day note with a face amount of $70,000.

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%.

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Corporate Financial Accounting

ISBN: 978-1133952411

12th edition

Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac

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Question Posted: Feb 28, 2014 08:41 AM

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On October 12, Belleville Co. borrowed cash from Texas Bank by issuing a 30-day note with a

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a 70000 b Face amount 70000 Issuing note 3...View the full answer

Corporate Financial Accounting

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