Question: Proceeds from notes payable On January 26, Nyree Co. borrowed cash from Conrad Bank by issuing a 60-day note with a face amount of $49,200.

Proceeds from notes payable On January 26, Nyree Co. borrowed cash from Conrad Bank by issuing a 60-day note with a face amount of $49,200. Assume 360 days in a year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 7%. b. Determine the proceeds of the note, assuming the note is discounted at 7%

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