Business, 31.07.2020 16:01 SkinnestXOXO
On August 1, Batson Company issued a 60-day note with a face amount of $58,800 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 10%.
b) Determine the proceeds of the note assuming the note is discounted at 10%.
Answers: 2
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On August 1, Batson Company issued a 60-day note with a face amount of $58,800 to Jergens Company fo...
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