3 . Josh Allen loans Stephon Diggs $ 4 0 0 , 0 0 0 . Allen...

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Question:

3 .

Josh Allen loans Stephon Diggs $

400, 000 .

Allen accepts an

8 %

note, which requires quarterly interest payments for

10

years. The day after receiving the

6

th interest payment, Allen decides to sell the note to Rockland Trust. Rockland Trust agrees to purchase it to yield a

9 %

return.

.

What is the amount that Josh Allen will receive on the sale of the note to Rockland Trust?

.

Prepare the entries that Josh Allen and Rockland Trust will make on the day the note is sold to the bank.

Posted Date: May 18, 2024 11:19 AM

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3 . Josh Allen loans Stephon Diggs $ 4 0 0 , 0 0 0 . Allen...

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