Question: On August 1, Batson Company issued a 60-day note with a face amount of $92,400 to Jergens Company for merchandise inventory. (Assume a 360-day

On August 1, Batson Company issued a 60-day note with a face amount of $92,400 to Jergens Company for merchandise inventory. (Assume a 360-day year is used for interest calculations.) a. Determine the proceeds of the note assuming the note carries an interest rate of 10%. 92,400 b. Determine the proceeds of the note assuming the note is discounted at 10%. 91,476 X Feedback Check My Work Partially correct

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