roceeds from Notes Payable On January 26, Vibrant Co, borrowed cash from Conrad Bank by issuing a 120-day note with a face amount of $66,000, Assume a 360 - 6ay year. Determine the proceeds of the note, assuming the note carries an interest rate of 8%. Determene the proceeds of the note, assuming the note is discounted at 8%. Festivo r Cles w, wos The proceeds equal the cash intially received, Proceeds represents how much in value the borrower is walking away with in cash of merchandise