Business, 15.04.2020 22:45, putaprincess16

Ireland Corporation obtained a $40,000 note receivable from a customer on June 30, 2016. The note, along with interest at 6%, is due on June 30, 2017. On September 30, 2016, Ireland discounted the note at Cloverdale bank. The bank's discount rate is 10%. What amount of loss should Ireland recognize on September 30, 2016? Please show the steps.

A. $780
B. $1,380
C. $1,800
D. $3,180

Answers: 1

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Ireland Corporation obtained a $40,000 note receivable from a customer on June 30, 2016. The note, a...