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Using ordinary interest, 360 days, calculate the missing information for the simple discount note. (Round dollars to the nearest cent.) Face Value Discount Rate (%) Date of Note Term (days) Maturity Date Bank Discount (in $) Proceeds (in $) $19,200 10 June 7 80

Using ordinary interest, 360 days, calculate the missing information for the simple discount note. (Round dollars to the nearest cent.) Face Value Discount Rate (%) Date of Note Term (days) Maturity Date Bank Discount (in $) Proceeds (in $) $19,200 10 June 7 80

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 21MC: A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an...
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Using ordinary interest, 360 days, calculate the missing information for the simple discount note. (Round dollars to the nearest cent.)
Face
Value		 Discount
Rate (%)		 Date of
Note		 Term
(days)		 Maturity
Date		 Bank Discount
(in $)		 Proceeds
(in $)
$19,200 10 June 7 80  ---Select--- January February March April May June July August September October November December $ $
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