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Business, 31.07.2020 16:01 SkinnestXOXO

On August 1, Batson Company issued a 60-day note with a face amount of $58,800 to Jergens Company for merchandise inventory. (Assume a 360-day year is used for interest calculations.) a) Determine the proceeds of the note assuming the note carries an interest rate of 10%.
b) Determine the proceeds of the note assuming the note is discounted at 10%.

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On August 1, Batson Company issued a 60-day note with a face amount of $58,800 to Jergens Company fo...

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