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RO 6,000, 2-month, non-interest-bearing note payable was discounted by a bank at 9%. The amount of the proceeds were a. 6000 b. 5910 c. 6054 d. 5946

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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RO 6,000, 2-month, non-interest-bearing note payable was discounted by a bank at 9%. The amount of the proceeds were a. 6000 b. 5910 c. 6054 d. 5946

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