A loan of Php. 50 000.00 that is due in 10 months at 12% interest is guaranteed by a post-dated check. Four months later the check is sold at a discount of 15%. Determine a) the face value of the check; b) the selling price of the check.

A loan of Php. 50 000.00 that is due in 10 months at 12% interest is guaranteed by a post-dated check. Four months later the check is sold at a discount of 15%. Determine a) the face value of the check; b) the selling price of the check.

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

ChapterD: Notes Payable And Notes Receivable

Section: Chapter Questions

Problem 2P

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