Answered: A bill for R2 190 was drawn on 29 may…

A bill for R2 190 was drawn on 29 may at 90d/d and discounted on July 18th at 8% pa. Calculate the cash value received by the bill holder.

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 1CE

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A bill for R2 190 was drawn on 29 may at 90d/d and discounted on July 18th at 8% pa. Calculate the cash value received by the bill holder.

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