Question: Proceeds from Notes Payable On January 26, Bella Co. borrowed cash from Conrad Bank by issuing a 120-day note with a face amount of $94,800.

Proceeds from Notes Payable On January 26, Bella Co. borrowed cash from Conrad Bank by issuing a 120-day note with a face amount of $94,800. Assume a 360-day year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 9%. $fill in the blank 1 b. Determine the proceeds of the note, assuming the note is discounted at 9%. $fill in the blank 2

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