Question 3 Loca Sia discounts at 15% its own 180-day, P450,000 note with Covidna Finance Corp. How much will be the cash proceeds of Loca Sia from the discounted note ? P483,750 P416,250

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Question 3
Loca Sia discounts at 15% its own 180-day, P450,000 note with Covidna Finance
Corp. How much will be the cash proceeds of Loca Sia from the discounted note ?
P483,750
P416,250
P447,469
P450,000
Transcribed Image Text:Question 3 Loca Sia discounts at 15% its own 180-day, P450,000 note with Covidna Finance Corp. How much will be the cash proceeds of Loca Sia from the discounted note ? P483,750 P416,250 P447,469 P450,000
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