On September 1, Elegant Salon Company issued a 60-day note with a face amount of $39,600...
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On September 1, Elegant Salon Company issued a 60-day note with a face amount of $39,600 to Osbome Hair Products Company for merchandise inventory. 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%. On September 1, Elegant Salon Company issued a 60-day note with a face amount of $39,600 to Osbome Hair Products Company for merchandise inventory. 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%.
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Auditing and Assurance Services Understanding the Integrated Audit
ISBN: 978-0471726340
1st edition
Authors: Karen L. Hooks
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