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Business, 29.07.2020 22:01 isaacbrown7one

On September 1, Elegant Salon Company issued a 90-day note with a face amount of $56,400 to Osborne Hair Products Company for merchandise inventory. Assume a 360-day year. Required:
a. Determine the proceeds of the note, assuming the note carries an interest rate of 8%.
b. Determine the proceeds of the note, assuming the note is discounted at 8%.

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On September 1, Elegant Salon Company issued a 90-day note with a face amount of $56,400 to Osborne...
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