Question: Proceeds from Notes Payable On September 1, Bella Salon Company issued a 60-day note with a face amount of exist88, 800 to Osborne Hair Products

Proceeds from Notes Payable On September 1, Bella Salon Company issued

Proceeds from Notes Payable On September 1, Bella Salon Company issued a 60-day note with a face amount of exist88, 800 to Osborne Hair Products Company for merchandise Inventory. Assume a 360-day 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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