I need correct answer accounting question Dubois Inc. loans money to John Kruk Corporation in theamount of $802,800. Dubois accepts an 8% note due in 6years with interest payable semiannually. After 2 years(and receipt of interest for 2 years), Dubois needs moneyand therefore sells the note to Chicago National Bank,which demands interest on the note of 10% compoundedsemiannually.What is the amount Dubois will receive on the sale of thenote?

Step 1: Define Notes ReceivableThe note receivable is an asset to the one who holds it, it ,means…

Answered: Dubois Inc. loans money to John Kruk…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter19: Lease And Intermediate-term Financing

Section: Chapter Questions

Problem 19P

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