Solve the problem.Twin City Freezer accepts a note with face value of $5290 on June6. The note is for 180 days at 8% interest. The note is discountedon July 30 at 9%. Find the proceeds.O $5328.30O $5266.82O $5347.56O $5326.92

To compute the net proceeds it is required to compute the maturity value.

Answered: Ey Freezer accepts a ote is for 180…

Business

Accounting

Ey Freezer accepts a ote is for 180 days a 30 at 9%. Find the pr

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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Solve the problem.
Twin City Freezer accepts a note with face value of $5290 on June
6. The note is for 180 days at 8% interest. The note is discounted
on July 30 at 9%. Find the proceeds.
O $5328.30
O $5266.82
O $5347.56
O $5326.92

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