Calculate the market value of the note

Assignment Help Accounting Basics

Reference no: EM132835675

Question - The credit period for this note receivable is 90 days. Interest 16% and the Principle amount is K5000.00, the note was down on 1 June 2020. On July 16 the note was discounted with Finance Bank at the rate of 24%.

Required -

1. Calculate the Market value of the note.

2. What is the value of proceeds to be received to the Finance Bank?

Reference no: EM132835675

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