Question: Proceeds from Notes Payable On January 26, Nova Co. borrowed cash from Conrad Bank by issuing a 60 -day note with a face amount of

Proceeds from Notes Payable On January 26, Nova Co. borrowed cash from Conrad Bank by issuing a 60 -day note with a face amount of $49,200. 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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