Kenny received a 120 days, 12% interest bearing note which is dated on 3 April 2019....
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Kenny received a 120 days, 12% interest bearing note which is dated on 3 April 2019. Later on 29 May 2019, he went to bank to discount the note with 7% interest rate and received RM2500. Determine: a) the maturity value of the note b) the bank discount c) the face value of the note d) the new proceeds if the discount rate is changed to 8% Kenny received a 120 days, 12% interest bearing note which is dated on 3 April 2019. Later on 29 May 2019, he went to bank to discount the note with 7% interest rate and received RM2500. Determine: a) the maturity value of the note b) the bank discount c) the face value of the note d) the new proceeds if the discount rate is changed to 8%
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Related Book For
College Accounting A Contemporary Approach
ISBN: 978-0077639730
4th edition
Authors: David Haddock, John Price, Michael Farina
Posted Date:
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