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Fast2F Fast2F
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7 years ago
Mountain Site discounts a customer's 10%, $7,000, 90-day note dated August 1, on September 20. The discount period is 40 days, and the bank discount rate is 18%. The maturity value of the note is $7,175. The bank discount is $143.50. The proceeds of the note are:
A) $6,856.50.
B) $7,031.50.
C) $7,000.00.
D) $7,041.50.
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
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AugustisAugustis
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7 years ago
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