Hernandez engineering received a promissory note of 15500, Ask an Expert

Accounting

Hernandez Engineering received a promissory note of $15,500 at 11% simple interest for 15 months from one of its customers. After 3 months, Union Bank discounted the note at a discount rate of 13%. find out the proceeds that Hernandez Engineering will receive from the discounted note?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M940158

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