Question: Proceeds from Notes Payable On May 15, Maynard Co. borrowed cash from Texas Bank by issuing a 60-day note with a face amount of $50,400.

of $50,400. Assume a 360-day year Required a. Determine the proceeds of

the note, assuming the note carries an interest rate of 10%. I.

Determine the proceeds of the note, assuming the note is discounted at

Proceeds from Notes Payable On May 15, Maynard Co. borrowed cash from Texas Bank by issuing a 60-day note with a face amount of $50,400. Assume a 360-day year Required a. Determine the proceeds of the note, assuming the note carries an interest rate of 10%. I. Determine the proceeds of the note, assuming the note is discounted at 10%. 49,560

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