On October 30, Seba Salon, Inc. issued a 90-day note with a face amount of $60,000 to

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On October 30, Seba Salon, Inc. issued a 90-day note with a face amount of $60,000 to Reyes Products, Inc. for merchandise inventory. Assuming a 360-day year, determine the proceeds of the note assuming the note is discounted at 8%.

a. $55,200

b. $64,800

c. $58,800

d. $61,200

Related Book For answer-question

Intermediate Accounting

ISBN: 978-0077400163

6th edition

Authors: J. David Spiceland, James Sepe, Mark Nelson

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Posted Date: Nov 04, 2019 03:04 AM

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On October 30, Seba Salon, Inc. issued a 90-day note with a face amount of $60,000 to

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Intermediate Accounting

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