On Dec 15, Soul trading signed a $120,000, 7%, 120-day not payable with the bank. The note was issued at a discount. How much cash did Soul trading receive from this transaction?
On Dec 15, Soul trading signed a $120,000, 7%, 120-day not payable with the bank. The note was issued at a discount. How much cash did Soul trading receive from this transaction?
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter17: Accounting For Notes And Interest
Section: Chapter Questions
Problem 3CE
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On Dec 15, Soul trading signed a $120,000, 7%, 120-day not payable with the bank. The note was issued at a discount. How much cash did Soul trading receive from this transaction?
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