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RO 6,000, 2-month, non-interest-bearing note payable was discounted by a bank at 9%. The amount of the proceeds were a. 6000 b. 5910 c. 6054 d. 5946

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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RO 6,000, 2-month, non-interest-bearing note payable was discounted by a bank at 9%. The amount of the proceeds were a. 6000 b. 5910 c. 6054 d. 5946

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