Business, 13.02.2020 22:58 masterdavey3691

On July 1, Lee Co. sold goods in exchange for a $200,000 8-month noninterest-bearing note receivable. At the time of the sale, the note’s market rate of interest was 12%. What amount did Lee receive when the note was discounted at a bank at 10% on September 1?

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On July 1, Lee Co. sold goods in exchange for a $200,000 8-month noninterest-bearing note receivable...