Enrique borrows from Carlos for 450 thousand on January 26 with expiration on October 31 of the
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Enrique borrows from Carlos for 450 thousand on January 26 with expiration on October 31 of the same year, for which he signs a bill of exchange at 36%. Later, on June 8, Carlos needs money to face important diligence and goes to the ABC bank who offers to buy the title under the discount system at a rate of 33.5%. and ten days later the Bank ABC sells the document to Bank XYZ who buys it at a rate of 32.5% discount. Determine: How much will Carlos receive from bank ABC, How much Bank XYZ earns and how much must Enrique pay.
Related Book For
Intermediate Accounting
ISBN: 978-1119048541
11th Canadian edition Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy
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