Business, 22.01.2020 05:31 kaitlynmoore42
On july 1, 2005, lee co. sold goods in exchange for a $200,000, 8-month, noninterest-bearing note receivable. at the time of the sale, the note's market rate of interest was 12%.
what amount did lee receive when it discounted the note at 10% on september 1, 2005?
a. $194,000
b. $193,800
c. $190,000
d. $188,000
Answers: 2
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