Answered: Roni Lockard signed a $28,500 simple…

Roni Lockard signed a $28,500 simple discount promissory note at a certain bank. The discount rate was 19%, and the note was made on February 13 (not in a leap-year) for 116 days

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 3CE

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Roni Lockard signed a $28,500 simple discount promissory note at a certain bank. The discount rate was 19%, and the note was made on February 13 (not in a leap-year) for 116 days

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