Proceeds from Notes Payable On May 15, Maynard Co. borrowed cash from Texas Bank by issuing a 60-day note with a face amount of $74,400. Assume a 360-day year. Required: a.  Determine the proceeds of the note, assuming the note carries an interest rate of 5%.$ b.  Determine the proceeds of the note, assuming the note is discounted at 5%.$

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A:

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Q: Proceeds

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