Barbara Waters signed a simple discount note for $150,000 for 150 days at a rate of 8%.Find (a) the proceeds and (b) the effective interest rate based on the proceeds received by Waters. * $5,000; 8.28% $145,000; 8.28% $500,000; 8.28% Other:

Barbara Waters signed a simple discount note for $150,000 for 150 days at a rate of 8%.Find (a) the proceeds and (b) the effective interest rate based on the proceeds received by Waters. * $5,000; 8.28% $145,000; 8.28% $500,000; 8.28% Other:

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 16Q: Jain Enterprises honors a short-term note payable. Principal on the note is $425,000, with an annual...

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Question

. Barbara Waters signed a simple discount note for $150,000 for 150 days at a rate of 8%.Find (a) the proceeds and (b) the effective interest rate based on the proceeds received by Waters. *

$5,000; 8.28%

$145,000; 8.28%

$500,000; 8.28%

Other:

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