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(Solved): On September 1, Elegant Salon Company issued a 60-day note with a face amount of $56,400 to Osborne ...



On September 1, Elegant Salon Company issued a 60-day note with a face amount of

$56,400

to Osborne Hair Products Company for merchandise inventory. Assume a 360 -day year. a. Determine the proceeds of the note, assuming the note carries an interest rate of

8%

.

$

b. Determine the proceeds of the note, assuming the note is discounted at

8%

.

$
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