ABC Company borrows money at a bank by issuing a $70,000, 3 month, non-interest bearing note. The
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ABC Company borrows money at a bank by issuing a $70,000, 3 month, non-interest bearing note. The note is discounted on a 10% basis. What amount of cash will ABC Company receive from the bank.
Related Book For
Accounting Principles
ISBN: 978-0470534793
10th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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