Question: Proceeds from Notes Payable On January 26, Nova Co, borrowed cash from Conrad Bank by Issuing a 90-day note with a face amount of $93,600.

Proceeds from Notes Payable On January 26, Nova Co, borrowed cash from Conrad Bank by Issuing a 90-day note with a face amount of $93,600. Assume a 360-day year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 5%. b. Determine the proceeds of the note, assuming the note la discounted at 5%

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