Question: Question Content Area On August 1, Batson Company issued a 60-day note with a face amount of $79,200 to Jergens Company for merchandise inventory. (Assume

Question Content Area

On August 1, Batson Company issued a 60-day note with a face amount of $79,200 to Jergens Company for merchandise inventory. (Assume a 360-day year is used for interest calculations.)

a. Determine the proceeds of the note assuming the note carries an interest rate of 8%. fill in the blank 1

b. Determine the proceeds of the note assuming the note is discounted at 8%.

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