Question: eBook Show Me How Print Item Proceeds from Notes Payable On January 26, Elegant Co. borrowed cash from Conrad Bank by issuing a 90-day note

eBook Show Me How Print Item Proceeds from Notes Payable On January 26, Elegant Co. borrowed cash from Conrad Bank by issuing a 90-day note with a face amount of $88,800. Assume a 360-day year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 7%. 88,800 b. Determine the proceeds of the note, assuming the note is discounted at %. X

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