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On January 26, Nova Co. borrowed cash from Conrad Bank by issuing a 30-day note with a face amount of $60,000. Assume a 360-day
On January 26, Nova Co. borrowed cash from Conrad Bank by issuing a 30-day note with a face amount of $60,000. Assume a 360-day year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 8%. b. Determine the proceeds of the note, assuming the note is discounted at 8%. S
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Accounting
Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider
28th Edition
1337902683, 978-1337902687
