Question: On August 1, Batson Company issued a 60-day note with a face amount of $71,400 to Jergens Company for merchandise inventory. (Assume a 360-day year

On August 1, Batson Company issued a 60-day note with a face amount of $71,400 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 6%.

B.) Determine the proceeds of the note assuming the not is discounted at 6%

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