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A $15,000 note is signed for 90 days at a discount rate of 9.25%. Calculate the proceeds. A) $14,653.75 B) $14,000.00 C) $15,000.00 D) $14,895.25

A $15,000 note is signed for 90 days at a discount rate of 9.25%. Calculate the proceeds. A) $14,653.75 B) $14,000.00 C) $15,000.00 D) $14,895.25

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 15MC: Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual...
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A $15,000 note is signed for 90 days at a discount rate of 9.25%. Calculate the proceeds. A) $14,653.75 B) $14,000.00 C) $15,000.00 D) $14,895.25
Transcribed Image Text:A $15,000 note is signed for 90 days at a discount rate of 9.25%. Calculate the proceeds. A) $14,653.75 B) $14,000.00 C) $15,000.00 D) $14,895.25
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