Hii expert please provide answer general Accounting question A $12,500 note is signed for 120 days at a discount rateof 8.75%. Calculate the proceeds.A) $12,089.73B) $11,500.00C) $12,500.00D) $12,093.15

Step 1: Define Proceeds from a Discounted NoteThe proceeds from a discounted note are the amount the…

Answered: A $12,500 note is signed for 120 days…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 16Q: Jain Enterprises honors a short-term note payable. Principal on the note is $425,000, with an annual...

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A $12,500 note is signed for 120 days at a discount rate of 8.75%. Calculate the proceeds. A) $12,089.73 B) $11,500.00 C) $12,500.00 D) $12,093.15