Notes Receivable BTS Publishing received a P70,000 promissory note at 12% 60 days from one of its customers. After 20 days, BTS discounted the note at the BP Commerce at a discount rate of 14.5%. The note was made on March 21. Provide the needed information and show computations. 1. What is the maturity value of the note? 2. What bank discount of discounting of the note? 3. What is the proceeds will BTS received after the discounting of note?

Notes Receivable BTS Publishing received a P70,000 promissory note at 12% 60 days from one of its customers. After 20 days, BTS discounted the note at the BP Commerce at a discount rate of 14.5%. The note was made on March 21. Provide the needed information and show computations. 1. What is the maturity value of the note? 2. What bank discount of discounting of the note? 3. What is the proceeds will BTS received after the discounting of note?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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