Required:
a. Determine the proceeds of the note, assuming the note carries an interest rate of 10%.
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b. Determine the proceeds of the note, assuming the note is discounted at 10%.
same question as: https://www.homeworklib.com/question/805187/ebook-show-me-how-calculator-print-item-proceeds
Proceeds from Notes Payable On September 1, Nova Salon Company issued a 60-day note with a face amount of $38,400 to Motlocks 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 10% b. Determine the proceeds of the note, assuming the note is discounted at 10%
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