Question: BOOK Show Me How Proceeds from Notes Payable On January 26, Nova Co. borrowed cash from Conrad Bank by issuing a 120-day note with

BOOK Show Me How Proceeds from Notes Payable On January 26, Nova Co. borrowed cash from Conrad Bank by issuing a 120-day note with a face amount of $73,200. Assume a 360-day year a. Determine the

BOOK Show Me How Proceeds from Notes Payable On January 26, Nova Co. borrowed cash from Conrad Bank by issuing a 120-day note with a face amount of $73,200. Assume a 360-day year a. Determine the proceeds of the note, assuming the note carries an interest rate of 7%. b. Determine the proceeds of the note, assuming the note is discounted at 7%.

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