Show Me How Calculator Print item Proceeds from Notes Payable On September 1, Elegant Salon Company issued a 60-day note with a face amount of $90,000 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 9% b. Determine the proceeds of the note, assuming the note is discounted at 9%. $ 88,650 The proceeds equal the cash initially received. Proceeds represents how much in due the borrower is walking away with in cash or merchandise Learning. Objective 1. Net Check My Works - a V 2:12 PM 20/2020