A $10,000, 12%, 60-day note receivable is received on January 12. The note is discounted at 12% on January 18. The proceeds of the note will be
A. $10,000.00
B. $10,016.40
C. $10,184.60
D. $11,200.00
Answer:B
A $10,000, 12%, 60-day note receivable is received on January 12. The note is discounted at 12% on January 18. The proceeds of the note will be
A. $10,000.00 B. $10,016.40 C. $10,184.60 D. $11,200.00