Question: Proceeds from notes payable On January 2 6 , Nyree Co . borrowed cash from Conrad Bank by issuing a 1 2 0 - day

Proceeds from notes payable
On January 26, Nyree Co. borrowed cash from Conrad Bank by issuing a 120-day note with a face amount of $88,800. Assume 360 days in a year.
a. Determine the proceeds of the note, assuming the note carries an interest rate of 9%.
fill in the blank 1 of 2$

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