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Business, 18.08.2019 01:10, oliwia0765
On july 1, year 1, kay corp. sold equipment to mando co. for $100,000. kay accepted a 10% note receivable for the entire sales price. this note is payable in two equal installments of $50,000 plus accrued interest on december 31, year 1 and year 2. on july 1, year 2, kay discounted the note at a bank at an interest rate of 12%. kay's proceeds from the discounted note were: a. $48,400.b. $49,350.c. $50,350.d. $51,700.
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Answers: 2
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On july 1, year 1, kay corp. sold equipment to mando co. for $100,000. kay accepted a 10% note recei...
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