Question: Proceeds from notes payable On January 26 , Nyree Co. borrowed cash from Conrad Bank by issuing a 30 -day note with a face amount

Proceeds from notes payable On January 26 , Nyree Co. borrowed cash from Conrad Bank by issuing a 30 -day note with a face amount of 584,000 . Assume 360 days in a vear. 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 is discounted at 5%. 5

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