DMT Farms harvests crops in roughly 90-day cycles based on a 360-day year. The firm receives payment from its harvests sometime after shipment. Due in part to the firm's rapid growth, it has been borrowing to finance its harvests using 90-day bank notes on which the firm pays 12% discount interest. If the firm requires P60,000 in proceeds from each note, what must be the face value of each note? A. P60,000 C. P67,423 E. P68,182 B. P61,856 D. P67,531

DMT Farms harvests crops in roughly 90-day cycles based on a 360-day year. The firm receives payment from its harvests sometime after shipment. Due in part to the firm's rapid growth, it has been borrowing to finance its harvests using 90-day bank notes on which the firm pays 12% discount interest. If the firm requires P60,000 in proceeds from each note, what must be the face value of each note? A. P60,000 C. P67,423 E. P68,182 B. P61,856 D. P67,531

Name: Show the solution in good accounting form 9. DMT Farms harvests crops
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: Show the solution in good accounting form 9. DMT Farms harvests crops in roughly 90-day cycles based on a 360-day year. The firm receives payment from itsharvests sometime after shipment. Due in part to the firm's rapid growth, it has been borrowing