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 of $43,200.

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 $43,200. Assume 360 days in a year a. Determine the proceeds of the note, assuming the note carries an interest rate of 9% b. Determine the proceeds of the note, assuming the note is discounted at 9%

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