Lee.com accepted a $70,000, 6 % , 120-day note on July 26. Lee discounts the note on October 28 at LB Bank at 6%. What proceeds did Lee receive? (Use Days in a year table.) (Round your answer to the nearest cent.) Lee received

Lee.com accepted a $70,000, 6 % , 120-day note on July 26. Lee discounts the note on October 28 at LB Bank at 6%. What proceeds did Lee receive? (Use Days in a year table.) (Round your answer to the nearest cent.) Lee received

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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