Question: Proceeds from Notes Payable On January 26, Vibrant Co. borrowed cash from Conrad Bank by issuing a 90 -day note with a face amount of

Proceeds from Notes Payable On January 26, Vibrant Co. borrowed cash

Proceeds from Notes Payable On January 26, Vibrant Co. borrowed cash from Conrad Bank by issuing a 90 -day note with a face amount of $85,200. Assume a 360 -day 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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